On 31-3-2023, the India International Arbitration Centre (‘Centre’) notified the India International Arbitration Centre (Criteria for Admission to the panel of arbitrators) Regulations, 2023. The provisions came into force on 31-3-2023.
Key Points:
1. Chamber of Arbitration (‘CoA’) will consist of experienced arbitration practitioners of repute, at national and international level, and people having wide experience in the area of Alternative Dispute Resolution (‘ADR’).
2. Panel of Arbitrators: The CoA will empanel arbitrators who are willing to serve as arbitrators subject to their expertise and experience in domestic / international arbitration. The CoA can add new names or remove names of existing arbitrators in the Panel.
3. Criteria for empanelment of arbitrator:
• Applicants should not be less than 35 years and not more than 75 years of age.
• The qualification and experience of the applicant should be largely relevant to the applicant’s field of expertise or of conduct of arbitration proceedings either as a sole arbitrator or as a member of any Arbitral Tribunal, within the last five years or otherwise related to the field of arbitration.
• Applicant will have to furnish a statement that he has not been found guilty by any Court for criminal offence/ misconduct nor any disciplinary proceedings or departmental proceeding is pending against him.
4. The maximum Period of Empanelment will be 5 years.
5. Tenure of the members of the CoA:
• 2 years and will be eligible for reappointment
• Membership can be relinquished after giving 1 month notice to the Centre
6. A Form for use of the Centre containing the arbitrator’s experience and the basic personal details will be put on the Centre’s website (Home | IIAC (indiaiac.org)).