- A party may challenge the appointment of an arbitrator or the
presiding arbitrator only if circumstances
exist that give rise to justifiable doubts as to his independence
or impartiality.
- The arbitral tribunal may rule on its own jurisdiction including
ruling on any objection with respect to the validity of the arbitration
agreement. However, the plea as to the objection must be raised
not later than submission of defence.
- The arbitral tribunal may at the request of the party, order
a party to take any interim measures of protection in respect
of the subject matter of the dispute as it may consider necessary.
It may ask for provision of appropriate security in this regard.
- The parties shall be treated equally and shall be given due
and ample opportunity to present their cases.
- The arbitral tribunal may conduct the proceedings in the manner
considered most appropriate. It has the power to determine the
admissability ,relevance,materiality and weight of any evidence.
- The ICADR may conduct the proceedings either at its office or
at any other place as it thinks fit.
- The arbitral tribunal may hold a pre-hearing with the parties
to settle the procedure to be adopted, to fix the time limit,
hearing dates and other matters to ensure efficient progress of
the arbitral proceedings.
- Elaborate procedure prescribed for hearings, submission of agreements,
production of evidence which includes appointment of experts for
any specific purpose.
- Where the place of arbitration is situated in India the arbitral
tribunal should decide the dispute submitted to arbitration in
accordance with the substantive law in force in India.
- In case of international commercial arbitration the arbitral
tribunal shall apply the law designated by the parties as applicable
to the substance of the dispute, but in all cases always the substantive
law.
- The arbitral tribunal will decide the dispute in accordance
with the terms of the contract taking into account the usage of
the trade as applicable to the transaction. The decision of the
arbitral tribunal, unless it is by a sole arbitrator, is by majority.
- The parties can settle the dispute even during arbitral proceedings
in which case the arbitral tribunal can record the settlement
in the form of an award and it shall have the same status as the
agreed award under Civil Procedure Code
- The sum directed to be paid by an arbitral award shall, unless
the award otherwise directs, carry interest at the rate of 18%
per annum from the date of the award to the date of payment.
- The ICADR charges fee for its services as a small percentage
based on the amount in dispute, subject to a minimum of Rs.5000/-
and a maximum of Rs.35,000/-.
- It also fixes the fee payable to arbitrators which in the case
of domestic arbitration is a minimum of Rs.10,000/- and
a maximum of Rs.1,00,000/- and in the case of international commercial
arbitrator a minimum of $2,000 and a maximum of $50,000.
- With a little modification ,broadly, the same pattern of rules
apply to Conciliation.
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