International Commercial Arbitration under In...

International Commercial Arbitration under Indian Law

Author Name : Dr. Manoj Kumar Sadual

ABSTRACT

The Arbitration and Conciliation Act, 1996 (hereinafter the Arbitration Act, 1996 or the Act, 1996), which governs Indian arbitration, went into effect on January 25, 1996. This Act is a unification act in the sense that it was designed to give effect to India's many international commitments, including the Model Law of 1985 (the ML, 1985), the New York Convention, and others., 1958 (the NYC, 1958) and the like. The 1996 Act not only consolidates, but also unifies Indian law on domestic and international commercial arbitration (ICA). The Government of India has comprehensive provisions in the Rules of the Indian Council of Arbitration dealing to fees and expenditures expended for arbitration hearings and awards. The Indian Council of Arbitration's Rules 28 and 29 state that incidental costs and charges of referral, arbitral award, and the like are at the arbitral tribunal's discretion. The scale of fees chargeable for administrative work and arbiter’s fees is given in Rule 30. There is no regulated fee structure for arbiters in an Ad hoc arbitration.