RULES OF ARBITRATION OF THE INDIAN COUNCIL 01: ARBITRATION ICA ARBITRATION CLAUSE

The Indian Council of Arbitration recommends to all parties desirous of making reference to arbitration by the Indian Council of Arbitration, the use of the fol1owing arbitration clause in writing in their contracts:

"Any dispute or difference whatsoever arising between the parties out of or relating to the construction, meaning, scope operation or effect of this contract or the validity or the breach thereof shall be settled by arbitration in accordance with the Rules of Arbitration of the Indian Council of Arbitration and the award made in pursuance thereof shall be binding on the parties."

DEFINITIONS

Rule 1
(i) These rules may be called the "Rules of Arbitration of the Indian Council of Arbitration."
(ii) These rules shall apply where parties have agreed in writing that
(a) a dispute has arisen or
(b) a dispute which may arise between them in respect of defined legal relationship whether contractual or not shal1 be settled under the Rules of Arbitration.

Rule 2
In these rules, the following words have the following meanings:
(i) "Arbitral Tribunal" means an arbitrator or arbitrators appointed for determining a particular dispute or difference.
(ii) "Arbitral Award" includes an interim award.
(iii) "Committee" means the Arbitration Committee of' the Council as provided for hereinafter.
(iv) "Council" means the Indian Council of Arbitration.
(v) "Governing Body" means the Governing Body of the Council.
(vi) "Guidelines" means the guidelines for arbitrators and the parties to arbitration for expeditious conduct of the arbitration proceedings given in the Annexure to these Rules.
(vii) "International Commercial Arbitration" means an arbitration relating to disputes arising out of legal relationships, whether contractual or not, considered as commercial under the law in force in India and where at least one of the parties is
(i) an individual who is a national of, or habitually resident in, any country other than India;
(ii) a body corporate which is incorporated in any country other than India;
(iii) a company or an association or a body of individuals whose central management and control is exercised in any country other than India, or (iv) the Government of a foreign country.
(viii) "Party" means a party to an arbitration agreement. It shall include any individual, firm, company, Government, Government organization or Government Undertaking.
(ix) "Panel" means the Panel of Arbitrators maintained by the Council.
(x) "Registrar" means the Registrar for the time being appointed by the Committee and includes such other persons as the Committee may nominate for carrying out the duties of the registrar under these rules.
(xi) "Rules" means the Rules of Arbitration of the Council.
(xii) "Rules of Conciliation" means the Rules of Conciliation of the Council
(xiii) "Fast Track Arbitration" means arbitration in accordance with Rule 44.
(xiv) Words importing the singular number include, where the context admits or requires, the plural number and vice versa.