The rules of Indian Council of Arbitration will apply where the parties decide that –
- Either a dispute has arisen, or
- A dispute is likely to arise and such a dispute, either contractual or not, will be settled under the rules of Indian Council of Arbitration.
Who are Appointed as Arbitrators Under the Rule
- A register is maintained by the registrar of ICA which includes the name and other such important details of the arbitrators of Indian Council of Arbitration.
- The panel of arbitrators includes both Indian and foreign arbitrators. Arbitrators from time to time are recommended by the members of the Council or any other person or organization.
- Where a party to dispute ask for an arbitrator living in the foreign land, it will be the duty of the party to dispute to accommodate the arbitrator he demanded. Subject to certain exceptions, all the expenses will be incurred by the party demanding such foreigner arbitrator.
- Age limit or retirement tenure of an arbitrator is 80. After the age of 80, any person automatically ceases to be an arbitrator as per the rules of Indian Council of Arbitration.
HERE ARE SOME OF THE RULES OF ICA
|RULE 1||Rules of Arbitration of the Indian Council of Arbitration shall apply where parties have agreed in writing that (a) a dispute has arisen or (b) a dispute which may arise between them in respect of defined legal relationship whether contractual or not, shall be settled under the Rules of Arbitration.|
|RULE 5||Wherever the Parties have agreed for arbitration by the Indian Council of Arbitration, in the form obtaining at the time the dispute is referred to arbitration of the Council, shall apply.|
|RULE 6||If one or both of the parties to a dispute which is referred to arbitration by the Council belong to a country or countries other than India, in the absence of an agreement by the Parties on the substantive law to be applied, it will be determined by the arbitral tribunal. The procedural law shall be the laws of India and parties shall be deemed to have submitted to the jurisdiction of the Courts in India.|
|RULE 8||The decision of the Committee on any question relating to interpretation of these rules or any procedural matter there under shall be final and binding on the parties.|
|RULE 9||All the members of the Panel will carry equal status and parties will not have any right to challenge the appointment of the arbitrator on the ground that its nominee arbitrator has higher status than the Presiding Arbitrator.|
|RULE 15||i) Any Party wishing to commence arbitration proceedings under these rules (Claimant) shall give a notice of request for arbitration to the Registrar of ICA and to the Respondent.
(ii) The notice of request (application) for arbitration to the Registrar shall be accompanied by:-
(a) the names and full addresses of the parties to the dispute.
(b) statement of the claim and facts supporting the claim, points at issue and relief or remedies sought with other details of the claimant’s case.
(c) original or duly certified copies of the arbitration agreement, any contract or agreement out of or in connection with which the dispute has arisen and such other documents and information relevant or relied upon.
(d) Registration Fee of Rs.10,000/- for claims up to Rs. One Crore and Rs.20,000/- for claims more than Rs. One Crore.
(e) The Arbitration shall be deemed to have commenced on the day the application for arbitration, registration fee and statement of claim are received in the office of the Council.
|RULE 31||The fees, costs and expenses incidental to the reference and the award shall include the following :
(1) Registration Fee
The Registration fee shall be payable with regard to the amount in dispute in each case as hereunder. The registration fee will not be refunded and becomes the property of the Council.
Rs.5,000/- upto Rs. One Crore claim
Rs.10,000/- more than Rs. One Crore claim
(2) Administrative Fee and Arbitrator’s Fee
The Administrative fee (of ICA) and Arbitrator’s fee (for each arbitrator) will be fixed separately with regard to the amount in dispute including determined interest in each case, as under:
(3) In addition to the above the ICA will be entitled to receive a Special Fee of Rs.2, 500/- per hearing for providing facilities of hearing rooms, for arbitration hearings and secretarial assistance etc. at the arbitration hearing.
(4) Notwithstanding the provisions in Sub-Rule (2) of this Rule, the Committee/Chairman of the Committee may prescribe the Arbitrator’s fees and the Administrative fees of the Council at a figure higher than those prescribed in the said Sub- Rules, if in the exceptional circumstances of the case this appears to be necessary.
(5) Notwithstanding the provision in Sub-Rule (2) hereinabove, in arbitration cases to which Rule 39 applies, the Arbitrator’s fee and the Administrative fee of the ICA will be fixed by computing the fee applicable to larger claim in addition to 60% of the applicable fees of all claims being tried jointly. Provided that the Committee will have the power to prescribe the Arbitrator’s Fee and Administrative Fee under this Sub-Rule in any other manner, having regard to the nature and facts of the matters under reference
|RULE 32||Other expenses : The arbitrator may be paid an amount of Rs. 750/- towards local conveyance for attending each arbitration hearing in the city of his residence. In respect of joint trial, the hearing will be treated as one irrespective of the number of cases. Any traveling and other expenses incurred by the arbitrator or the Registrar for attending the arbitration hearings in a city other than the place of residence, shall also be reimbursed to him as provided hereinafter. All the above expenses shall form part of the arbitration costs.|
|RULE 40||All applications which the parties desire to make to the arbitral tribunal and all notices to be given to the Parties before or during the course of arbitration or otherwise in relation thereto shall be made through and sent by the Registrar who shall communicate the orders and directions of the Arbitral Tribunal thereon to the Parties|
|RULE 42||The place or venue of arbitration shall be India. The Arbitration proceedings shall be held at such place or places in India as the Arbitral Tribunal may determine having regard to the convenience of the Arbitrators and the Parties. In a case in which one or both the Parties are from overseas, the Arbitration proceedings may also be held at any place outside India at the discretion of the Arbitral Tribunal|
|RULE 44||Fast Track Arbitration : The Parties may opt for Fast Track Arbitration and request the arbitral tribunal, before the commencement of the arbitration proceedings, to decide the reference in a fixed time frame of 3 to 6 months or any other time agreed between the Parties, according to the Fast Track Arbitration procedure, as under:
(1) The arbitral tribunal will be authorised to decide the dispute on the written pleadings, documents and written submissions filed by the Parties without any oral hearings.