ABOUT ICA

Costly, time-consuming business disputes can take a real bite out of your company’s bottom line. That is why more and more companies are turning to the Indian Council of Arbitration (ICA), the undisputed leader in dispute resolution services in India.

The ICA was established in 1965 as a specialized arbitral body at the national level under the initiatives of the Govt. of India and apex business organizations like FICCI etc. Based in New Delhi, the main objective of ICA is to promote amicable, quick and inexpensive settlement of commercial disputes by means of arbitration, conciliation, regardless of location. more...

NEW ICA RULES OF DOMESTIC COMMERCIAL ARBITRATION | INTERNATIONAL COMMERCIAL ARBITRATION | MARITIME ARBITRATION
(effective from 1st April, 2016)

(A)     New Registration rate of Fee for Domestic Commercial Arbitration:

  • Non-Refundable Registration Fee of Rs.15,000/- plus applicable taxes for claims up to Rs.1 Crore
  • Non-Refundable Registration Fee of Rs.30,000/- plus applicable taxes for claims above Rs.1 Crore

(B)     New Registration Fee for International Commercial Arbitration:

  • Non-Refundable Registration Fee of U S Dollars 1,650 plus applicable taxes (No Change)

(C)     New Registration Fee for Maritime Arbitration

  • Non-Refundable Registration Fee of Rs.15,000/- plus applicable taxes for claims up to Rs.1 Crore
  • Non-Refundable Registration Fee of Rs.30,000/- plus applicable taxes for claims above Rs.1 Crore

All amendments in these Rules are introduced pursuant to the amendments to the Arbitration & Conciliation Act, 1996 (“Act”), which will automatically become effective from the date of amendments to the Act i.e. 23rd October, 2015. All other amendments shall become binding with effect from 1st April, 2016. The aforesaid amended Rules are appended herein below.

Due to Krishi Kalyan Cess (KKC), applicable on service tax w.e.f. 1st June, 2016, the effective service tax will now become 15% from the existing 14.5%. The increased service tax will be charged on every payment receivable by the ICA on or after 1st June, 2016.

ICA COMMERCIAL ARBITRATION, CONCILIATION & MARITIME ARBITRATION CLAUSES


Maritime Rules
(with effect from 1st April, 2016), click here.