Costly, time-consuming business disputes can take a real bite out of your company’s bottom line. That is why more and more companies are turning to the Indian Council of Arbitration (ICA), the undisputed leader in dispute resolution services in India.
The ICA was established in 1965 as a specialized arbitral body at the national level under the initiatives of the Govt. of India and apex business organizations like FICCI etc. Based in New Delhi, the main objective of ICA is to promote amicable, quick and inexpensive settlement of commercial disputes by means of arbitration, conciliation, regardless of location. more...
“In order to make it more expeditious, efficient and sustain and achieve the objectives of universally accepted, applicable, effective and best practice of maritime arbitration as also to respond to the increased demand of domestic and international trade community, Indian Council of Arbitration have recently amended its Maritime Arbitration Rules, which have been effective from 01st October, 2012”.
In order to update the contact details of all ICA members a Database updation Form is prepared and enclosed for your information and use. Please do the needful in order to help us update your contact information. The completed form may be send to the council by post or through email. (Download Form)
Registration Fee for Arbitration Cases:
w.e.f 08 - 05 -2012
Claims below Rs. 1 crore Rs. 10000
Claims above Rs. 1 crore Rs. 20,000
In order to rule out certain ambiguities, anomalies and inadequacies found to be existed in the ICA Maritime Arbitration Rules as effective from October, 2012, the Council decided and proposed amendments to the said Maritime Rules and through series of debates and deliberations upon the subject, the said Maritime Rules have now been thoroughly revised and approved by the Ministry of Shipping. The revised Rules have been effective on and from 1st September, 2014.
For complete text of the revised Maritime Rules (with effect from 1st September, 2014), click here.
“As per Government Notification No. 25/2012-Service Tax dated 20th June, 2012, service tax is @ 12.36% on every amount received by the ICA on the following heads/items with effect from 1st July, 2012:
Annual Membership Subscription
Life Membership Fee
Registration Fee for initiation of arbitration
Administrative Charges on Claim and Counter Claim
Any additional fee, charges, costs & expenses
Participation Fee for Conference/Seminar
Process Charges for Appointment of Arbitrator in Ad-hoc Arbitration Cases
Serial Nos. 3 to 5 are equally applicable to references under ICA Conciliation Rules and ICA Maritime Arbitration Rules.
ICA SERVICE TAX REGISTRATION NUMBER : AAATI2848ESD001”
ICA Seminar on “Arbitration in India: The Way Forward”
April 26, 2014 Kolkata
The Indian Council of Arbitration organized a Seminar on “Arbitration in India: The Way Forward” on 26th April, 2014 at Kolkata. The Seminar was addressed by Hon’ble Mr. Justice S S Nijjar and Hon’ble Mr. Justice P C Ghose. Justice Nijjar, in his inaugural address, called for a comprehensive Arbitration Act and expected India to come up as an arbitration-friendly nation and judiciary. Justice Ghose, in his Special Address, supported institutional arbitration and asked parties and lawyers to take the initiative. Mr. N G Khaitan, President, ICA, earlier in his Welcome Address, rooted for opening India’s arbitration process. He also stressed that arbitration should be institutionalised, time-bound and cost-effective to succeed.
The Seminar was attended by close to 400 participants including sitting Judges of Calcutta High Court, former Judges of High Courts and Supreme Court, lawyers and experts from various fields of profession.
Mr. Arun Chawla
Mr. D Sengupta Additional Director
ICA RELEASED ITS NEW RULES FOR INTERNATIONAL COMMERCIAL ARBITRATION
The Indian Council of Arbitration (ICA) has recently published its new Rules of International Commercial Arbitration governing international commercial disputes for ICA commercial arbitrations initiated on or after 1st January, 2014. Arbitration proceedings filed prior to 1st January, 2014 continue to be governed by the ICA Rules of Arbitration amended and effective from 8th May, 2012.
Hon’ble Mr. Justice A K Sikri launching the new ICA Rules for International Commercial Arbitration. Flanked by: (L to R) Mr. N G Khaitan, President, ICA, Mr. Sidharth Birla, President-Elect, FICCI and Dr. A. Didar Singh, Director-General, ICA & Secretary-General, FICCI
There are a number of significant changes brought into the new Rules of International Commercial Arbitration, many of which appear designed to add increased flexibility to the parties and retain arbitration's promise of a streamlined, cost-effective alternative to traditional litigation. Click here to see the complete text of the new Rules of International Commercial Arbitration.