Iran Chamber of Commerce Arbitration (hereinafter
ACIC) is a new organization compared to other countries
worldwide. This organization brought new methods to settle
disputes. In this article, we will discuss the formation of this
center, the rules of arbitration proceedings, and the structure of
the Iran Chamber of Commerce Arbitration Center.
To have a better understanding of this organization, we conclude
the article by reviewing a sample award of arbitration issued by
ACIC.
The History of the Chamber of Commerce in Iran
Iran Chamber of Commerce Arbitration
Center or Arbitration Center of
Iran was established on February 2002, in line with the
implementation of Clause "H" of Article "5" of
the Law on the Establishment of the Chamber of
Commerce, Industries and Mines of Iran, which was approved
by the Parliament in March 1991 (amended on December 1994). The
operation of this organization is based on its statute.
