What is the Role of ICC in Arbitration and Conciliation

1. What is the Role of ICC in Arbitration and Conciliation? What is the Role of ICC in Arbitration and Conciliation? Introduction In the dynamic world of international business, disputes are inevitable. Resolving them efficiently and fairly is critical to maintaining trust, minimizing risks, and protecting global trade relationships. This is where the International Chamber of Commerce (ICC) steps in — as a cornerstone institution in the field of arbitration and conciliation. The ICC provides robust mechanisms for resolving commercial disputes, ensuring fairness, neutrality, and enforceability across borders. Understanding the ICC The International Chamber of Commerce (ICC), founded in 1919, is the world’s largest business organization, representing over 45 million companies in more than 170 countries. Among its many roles, the ICC is globally recognized for: •International policy advocacy •Trade facilitation •Standard setting •Dispute resolution through its ICC Court of Arbitration PHD House, 4th floor, 4/2, Siri Institutional Area August Kranti Marg New Delhi-110 016 Tel : 91-11-2654 1200, 91-11-4650 9413 Email : amcham@amchamindia.com

2. ICC’s Role in Arbitration 1. Administering Disputes Through the ICC Court of Arbitration The ICC International Court of Arbitration, established in 1923, is one of the most trusted institutions for resolving international commercial disputes. Though it doesn’t function as a court in the judicial sense, it manages the arbitration process under the ICC Rules of Arbitration. 2. Neutral & Globally Recognized Procedures •Ensures impartiality and efficiency •Provides procedural frameworks for arbitration •Appoints and confirms arbitrators •Reviews and approves arbitral awards 3. Enforceable Awards Arbitral awards under ICC rules are binding and internationally enforceable under the New York Convention in over 160 countries — a critical asset for cross-border dispute resolution. ICC’s Role in Conciliation (Amicable Dispute Resolution) 1. ICC Rules of Mediation and Amicable Settlement In addition to arbitration, the ICC also facilitates conciliation or mediation, providing parties an opportunity to reach mutually agreeable solutions before entering formal proceedings. 2. Benefits of ICC Conciliation •Cost-effective and time-saving •Preserves business relationships •Confidential process with professional mediators •Voluntary and collaborative resolution PHD House, 4th floor, 4/2, Siri Institutional Area August Kranti Marg New Delhi-110 016 Tel : 91-11-2654 1200, 91-11-4650 9413 Email : amcham@amchamindia.com

3. 3. Professional Mediation Services The ICC maintains a panel of experienced, multilingual mediators from around the world. Parties can choose or be assigned a neutral mediator to facilitate dialogue and resolution. Key Advantages of ICC Dispute Resolution •Global Reputation: Respected by courts and governments worldwide •Customization: Flexible procedures to fit diverse disputes •Multilingual Services: Supports proceedings in various languages •Neutrality:Ensures no party has a “home advantage” •Institutional Support: Offers expert guidance throughout the process Real-World Impact From multinational corporations to startups engaged in cross-border trade, thousands of parties trust the ICC for resolving disputes. Sectors like construction, energy, finance, IP, and logistics frequently utilize ICC arbitration or conciliation for dispute management. Conclusion The ICC plays a pivotal role in safeguarding international commerce by offering reliable, fair, and enforceable methods of dispute resolution. Whether through formal arbitration or amicable conciliation, the ICC helps businesses resolve conflicts while preserving relationships and advancing global economic cooperation. PHD House, 4th floor, 4/2, Siri Institutional Area August Kranti Marg New Delhi-110 016 Tel : 91-11-2654 1200, 91-11-4650 9413 Email : amcham@amchamindia.com