IIAM Arbitration
IIAM Arbitration is based on the Arbitration Rules published by the Indian Institute of Arbitration & Mediation (IIAM), which is intended to help parties and arbitrators to take maximum advantage of the flexible procedures available in arbitration for the resolution of disputes quickly and economically. The IIAM Arbitration Rules has adopted the UNCITRAL Arbitration Rules with modifications and is intended to provide effective arbitration services through the use of administered arbitration on global standards. (See UNCITRAL site for details). The Rules provide that the wishes of the parties regarding procedure will be respected as far as possible, but they also seek to ensure that the Arbitrator will have sufficient powers to direct the proceedings if the parties cannot agree on procedure or will not co-operate.
Arbitration Rules have been developed to encourage greater use of administered arbitration. By providing for arbitration under these rules, parties can avoid the uncertainty of having to petition a court to resolve procedural impasses. These rules are intended to provide effective arbitration services through the use of administered arbitration. The Rules allow the procedure to be as short and as inexpensive as practicable.
IIAM is a member of Asia-Pacific Centre for Arbitration & Mediation (“APCAM”) and where the parties seek to resolve any international dispute under the IIAM Arbitration Rules, they are deemed to have agreed to resolve such disputes as per the Arbitration Rules of APCAM. This help the business community to resolve their international commercial and business disputes by arbitration under a single set of Arbitration Rules and with a uniform fee structure in all the APCAM member countries to minimize the hassle of adhering to different laws or fees of different institutions. For details, Click here
The AMA or the Arb-Med-Arb Procedure under the IIAM Rules, is an effective way by which the party can invoke arbitration and simultaneously try to resolve the dispute through mediation and if successful, make the outcome as an arbitral award or in case of failure of mediation, continue with arbitration. The AMA procedure helps to save time and also helps to make mediation settlement binding, especially in international disputes, as the mediation settlement would become enforceable under the New York Convention.
IIAM Arbitration Rules provide the provision for the appointment of emergency arbitrators, which allows the party in need of emergency interim relief to make such application and the said application can be made concurrently with or after the filing of the Request for Arbitration, but not after the constitution of the arbitral tribunal. The emergency arbitrator shall act to determine all applications for emergency interim relief until the constitution of the proper arbitral tribunal. Emergency interim relief order or award granted by an emergency arbitrator shall have a binding effect on the parties.
IIAM Expedited Arbitration is based on the Expedited Arbitration Rules, which is intended to help parties and arbitrators to take maximum advantage of the flexible procedures available in arbitration for the resolution of disputes quickly and economically. IIAM Expedited Arbitration Rules is adopted based on the concept given under the UNCITRAL Expedited Arbitration Rules 2021. The Rules allow the parties to choose the proceedings balancing the efficiency of the arbitral proceedings and the rights of the disputing parties to due process and fair treatment and to reach a final resolution of the dispute in a cost and time effective manner.
IIAM Arbitration Rules also provide parties option to initiate and/or conduct arbitration through digital platform, using Peacegate Application or such other platforms as agreed by the parties. This can be done for Expedited arbitration, Emergency Arbitration, AMA Procedure, interim or preliminary measures, etc. The parties can also opt for virtual hearing under the IIAM Arbitration Rules.
Under these rules, the parties are free to adopt any mutually agreeable procedure for appointing arbitrators, or may designate the institution for appointment. This flexible procedure permits parties to utilize whatever method they consider best to suit their needs. In any event, if parties are unable to agree on a procedure for appointing arbitrators, IIAM, after inviting consultation by the parties, will appoint the arbitrators. Appointment is also guided by the IBA Guidelines on Conflicts of Interest in International Arbitration. The rules thus provide for the fullest exercise of party autonomy, while assuring that the IIAM is available to act if the parties cannot reach mutual agreement. The costs and expenses of arbitration will be governed by the Fee Schedule of the IIAM Arbitration Rules. For administered arbitration by IIAM, there should be an arbitration clause in their contracts or in the absence of any such clause; there should be an agreement between the parties to arbitrate under the IIAM Rules. By using such a clause, the parties to the contract agree to arbitrate any future disputes under the IIAM Arbitration Rules.
