International Chamber of Commerce (ICC) continues to
be the world's leading organization in the field of international commercial
dispute resolution. The International Court of
Arbitration has pioneered international commercial arbitration, which
continues to be in practice today.
The ICC's Rules of Arbitration, which provide a means for settling disputes in a
final and binding manner, are the best known of these services.
Established in 1923 as the arbitration body of ICC, the International Court of
Arbitration has pioneered international commercial arbitration. The Court took
the lead in securing the worldwide acceptance of arbitration as the most
effective way of resolving international commercial disputes. Most of the
members of the present World Trade Organization access the services of ICC since
its creation. Rapidly growing world economy will find its services
Other Services extended by ICC for dispute resolutions
falls under different categories of Dispute Resolution Options
- Dispute Resolution Services
The ICC ADR Rules offer a framework for the
amicable settlement of commercial disputes with the assistance of a neutral.
Parties to the dispute to choose the settlement mechanism. The neutral assists
in arriving at a solution acceptable to each other through negotiation, a mini
- Dispute Resolution Services
This mechanism of dispute resolution involves
in the proposal of experts, their appointment and the administration of
expertise proceedings. When administering proceedings, the Centre appoints or
confirms experts, initiates and supervises various aspects of the procedure, and
reviews and issues the expert's report. Areas covered are matters concerning
contract prices, evaluation of shares, interpretation of contractual provisions,
the operational capacity and performance of production units, the condition of
machinery with a view to its buy-back price etc. It also extends assistance to
dispute adjudication boards in international construction projects.
– Dispute Resolution Services
Established by the ICC Banking Commission to
facilitate rapid settlement of disputes arising under the Uniform Customs and
Practice for Documentary Credits (UCP), the Uniform Rules for Bank-to-Bank
Reimbursement under Documentary Credits (URR), the ICC Uniform Rules for
Collections (URC), or the ICC Uniform Rules for Demand Guarantees (URDG).
The Objective of DOCDEX is for arriving at a speedy and reliable dispute
- Arbital Referee Procedure
It may be noted that the ICC's Pre-Arbitral
Referee Procedure complements these Rules. It was introduced in 1990 to provide
parties with an alternative to Courts of law in obtaining urgent interim relief
in connection with international commercial disputes.
In order to use the various arbitration
related services, it may be prudent to have such Arbitration Clauses
incorporated in the contracts, its scope, acceptability on findings and other
such pertinent factors as found necessary on a case to case basis. It is only in
such cases arbitration related disputes can find amicable settlements.