ICAC centre

Querist : Anonymous (Querist) 29 October 2010 This query is : Resolved
Dear Experts

Is there centre for International arbitration such as "ICAC of Indian Federation of Commerce and Industry" in India ?? Pls. let me know if there is such centre in India.

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s.subramanian (Expert) 29 October 2010
Yes. It is in Mumbai.

Querist : Anonymous (Querist) 29 October 2010

Thanks a lot !

Is it advisable to governed by ICAC arbitration then the Indian Arbitration & Conciliation Act for two Indian Parties ?
Is ICAC much faster and prefer option to Indian Arbitration Act ?

Pls. advised.

Thank.

s.subramanian (Expert) 29 October 2010
You can opt for Indian Arbitration and Conciliation Act since both the parties are indians.

Devajyoti Barman (Expert) 29 October 2010
ICAC is not a statute . It is an association of Industries which provides the facilities of conducting the Arbitration Proceeding which is called the Institutional Arbitrator. If a party is willing it can appoint it as an Arbitrator than appointing any ad hoc arbitrator.

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