AECCI - IAC FAQ's
Our FAQ section provides answers to some of the most commonly asked questions about AIAC, such as our arbitration process, the fees involved, and the qualifications of our arbitrators.
In our AECCI-IAC FAQ section, we aim to provide comprehensive answers to the most commonly asked questions about arbitration and the services we offer. Whether you are a business owner, legal practitioner, or an individual seeking resolution for a dispute, our FAQ section will provide you with valuable insights into the arbitration process and how AECCI-IAC can assist you in achieving your goals.
From the advantages of arbitration over litigation to the types of disputes that can be resolved through AECCI-IAC, our FAQ section covers all the essential information you need to know about our institution. With our commitment to transparency, fairness, and efficiency, we strive to provide our clients with the highest quality arbitration services possible.
No, the AECCI- IAC is independent, autonomous non-profit organization operating in India specifically conducting International Commercial Arbitration, International Maritime Arbitration and for matters connected therewith or incidental thereto.
Yes, the AECCI- IAC is an independent permanent arbitral institution which specializes in conducting commercial arbitration proceedings and provides legal advice in this regard.
Any parties to the contract or any person duly authorized by them can submit an arbitral commercial dispute to AECCI- International Arbitration Centre. Pursuant to an arbitration agreement/ clause referring the arbitral commercial disputes to AECCI- IAC.
The AECCI- IAC Administers various kinds of arbitrations which includes commercial, corporate, construction disputes based on the arbitration clause contained in the contract entered between the parties.
Yes, the AECCI- IAC rules contains a standard Clause for the dispute resolution process including the seat of arbitration, the place of hearing, Constitution arbitral tribunal, the language of arbitral proceeding and the governing law of the arbitration agreement/ the contract. In continuation with this, any Sales contract, PO’s or Agreements, you shall consider and must mention the following clause given below:
Any dispute, Controversy in connection with or arising from this agreement or the breach, termination or invalidity thereof, shall be entitled by third party entity in Asian Exporters Chamber of Commerce and Industry- International Arbitration Centre (Navi Mumbai, India) as Arbitration Institution.
Yes, The AECCI- IAC rules contains the standard clause wherein the Default Seat of Arbitration is India. However in absence of such standard clause in the contract the parties can select the seat of conducting arbitration proceedings through mutual consent. In the absence of any pre-established agreement, the choice of arbitration location shall be determined by the AECCI-IAC council, taking into consideration the circumstances of the case and the convenience of the involved parties.
Yes, The AECCI International Arbitration Center rules contains a standard confidentiality clause wherein the parties to arbitration agrees to bind themselves to adhere strict secrecy between commencements of arbitration proceedings up to the final conclusion of the same.
Yes, the AECCI- IAC generally had a Place of arbitration seated in Mumbai however the AECCI- IAC rules specially contains a clause whereby the AECCI- IAC (Navi Mumbai, India) is empowered to administer any arbitration proceedings outside India in accordance with the applicable Foreign laws governing either one or both the parties to the Contract.
Yes, parties to the Contract can nominate their own arbitrators subject to confirmation of the AECCI- IAC Council however, if the parties fails to nominate an arbitrator of their choice then the AECCI- IAC Council shall subject to confirmation of both the parties to arbitration shall nominate an arbitrator. However in case of Deadlock Situation arising between the Arbitrators appointed by both the parties to Arbitration at any stage than AECCI- IAC Council shall exercise its discretionary power to nominate a Referee or Umpire Arbitrator to resolve the Deadlock situation.
Yes, the AECCI- IAC subject to Arbitration Rules can appoint an arbitrator in an ad hoc arbitration upon payment of the appointment fee.
The parties must agree to submit the dispute to AECCI- IAC (Navi Mumbai, India) for arbitration either by way of an arbitration clause contained within their agreement or by executing a written post-dispute agreement. A Request for Arbitration should be filed with the Secretariat of AECCI- IAC.
Yes, at the request of a party, and after consultation with parties and appointed arbitrators, the AECCI- IAC Council has the power to consolidate two or more arbitration proceedings if all parties agree to the consolidation, and all claims in the arbitration are made under the same arbitration agreement.
Yes, there is a one-time non-refundable case filing fee of USD 300 (For Members) and USD 400 (For Non-Members) and payable for counterclaim as well.
Note Bank Details:
Account Name: Asian Exporters Chamber of Comm and Ind
Bank Name: YES Bank
A/C No: 02168 87000 00780 ( Current Account)
Branch Name: CBD Belapur
IFSC Code: YESB0000216
The Case Filing Fee can be paid either by Cheque, Demand Draft, or Pay Order drawn in favour of ‘Asian Exporters Chamber of Commerce & Industry’ through bank transfer.
Individuals interested in being considered for an arbitrator role in AECCI International Arbitration Center can drop an e-mail at firstname.lastname@example.org expressing their interest and requesting the AECCI- IAC to review and consider their expression of interest. The email should include an application form filled in and signed, covering letter detailing relevant experience and a detailed CV.
The Expedited Procedure is a special process available for simple disputes of low value, requiring a quick resolution (within 6 months) at a lower cost. A party can request the Secretariat for arbitral proceedings to be conducted under the Expedited Procedure when the amount in dispute at the time of application does not exceed INR 10 Crore or if the parties agree in writing. The AECCI- IAC Expedited Procedure can also be integrated into a dispute resolution clause in a contract, irrespective of the amount in dispute.
In exceptional cases of urgency, a party requiring emergency interim relief before the constitution of the arbitral tribunal can apply to the Secretariat for the appointment of an Emergency Arbitrator. The application should state the nature and circumstances of the relief sought, the reason for emergency relief, and why the party is entitled to such relief. The application should also include a statement certifying that all other parties have been notified, or an explanation of the steps taken to notify other parties, and the required fees.
If the Chairman of the AECCI- IAC Council of Arbitration grants the application for the appointment of an Emergency Arbitrator, the Emergency Arbitrator will be appointed within one business day of the application being received by the Secretariat, along with the requisite fee.
Yes, pursuant to Rule 24, the arbitral tribunal must the tribunal must submit all draft awards to the Registrar, except in exceptional circumstances. While the Registrar can propose changes to the format and content of the draft award, the tribunal has the final say.
Arbitration under the AECCI- IAC Rules provides several advantages over ad hoc arbitration, including a sophisticated set of institutional arbitration rules that incorporate international best practices, special procedures such as the consolidation of proceedings and the appointment of an emergency arbitrator, appointment of arbitrators based on their expertise and suitability for a particular case, an efficient procedure for the appointment of the arbitral tribunal, administrative assistance and supervision by the AECCI- IAC Secretariat, a transparent and cost-efficient arbitration process, and scrutiny of arbitral awards before release to reduce the scope of administrative errors and make enforcement problems less likely.
Yes, AECCI-IAC maintains a Panel of Arbitrators consisting of 8 Arbitrators.