IDAC India can handle International Arbitrations seated in India. International arbitration seated in India, is an arbitration conducted as per the procedural law of India and in a seat (Place) in India. The Procedural law in India is Arbitration and Conciliation Act,1996.
In cases where parties are from different countries choose an arbitral seat in India, the supervisory jurisdiction vests with Indian courts, having its jurisdiction over the seat of arbitration. Hence the power to appoint an arbitrator and power to set aside the arbitral award goes to Indian courts.
The main difference between a domestic arbitration and an international arbitration is that, the power of the parties to choose a different substantive law. Substantive law is the law under which the disputes have to get resolved. That means the arbitration tribunal has to interpret the contract between the parties only as per the substantive law decided by the parties.
If parties do not choose any arbitral Institution Rules, then that arbitration will be fully governed by the procedure laid down in the Arbitration & Conciliation Act, 1996 read with the procedure decided by the arbitrator, if parties have not decided. So in such a situation as per Indian law one of the party to the contract, should approach the Supreme Court of India seeking to appoint an arbitrator. The fees shall be decided by the arbitral tribunal.
Indian law prescribes certain procedure for the conduct of arbitration, only when the parties do not agree for a common arbitration procedure. That means if parties agree on a particular procedure to conduct arbitration, the law does not interfere into the procedure agreed procedure. But parties cannot effectively decide item wise and finalise a strong arbitration procedure. But IDAC India being a professional Arbitration centre, has drafted and published “IDAC India International Arbitration Rules”, which has taken care all the possible issues, which may arise in the course of arbitration, to ensure a transparent effective arbitration. Hence if parties incorporate into the arbitration clause, choosing IDAC India arbitration Rules, that will help them to have a hassle free and systematic arbitration.
Once parties choose IDAC Rules as governing rules for their arbitration, IDAC gets the authority to appoint the arbitrator (if parties do not agree on a common arbitrator), fix the fees, administer the arbitration etc., Since IDAC India ensures transparency, fair and professionally managed international arbitration, the parties will resolve their disputes effectively and within a reasonable time.
If the agreement contains an arbitration clause, in which the parties have agreed to apply IDAC India Arbitration Rules, then the party which requires to start the arbitration can write a letter enclosing the copy of the arbitration clause, list of claims along with the application fee to Registrar, IDAC India seeking appointment of arbitrator. Once such a letter is received, the centre will take over the matter, initiate the proceedings, issue notices to all concerned and administer the arbitration as prescribed in the Rules.