ICC Arbitration Where Indian Law is the Substantive Law: While finalizing an international contract between parties from different jurisdictions, parties can determine the applicable laws, as per which disputes will be resolved in case dispute arise between the parties out of the contract and incorporate it in the contract. Once parties choose a foreign seat then the supervisory jurisdiction over that goes to the Courts in that jurisdiction and the procedural law becomes local arbitration law of that country. But if the assets created by the contract are situated in India or for any other reason parties may choose India seat of arbitration as well as Indian law as the law governing the contract or substantive law, then the supervising courts will be Indian Courts and the arbitrators have to interpret the contract and decide the disputes as per Indian law. In such matters where the substantive law is Indian law the firm and its partners can handle the entire matter on their own, without involving any Foreign qualified lawyer, till the pronouncement of an award. In case of any challenge preceding, the firm shall use the services of its Associate lawyer from that jurisdiction. Due to this capability of the firm, the Firm is able to effectively cut the costs of arbitration and keep it affordable and reasonable. The Firm has many Associate Barristers and Solicitors in London with a command over arbitration matters.
ICC Arbitration Where a Foreign Law is the Substantive Law: While finalizing the contract parties determine the applicable laws which should be used to resolve the disputes, in case dispute arise between the parties out of the contract. Once parties choose the London seat then the supervisory jurisdiction goes to London Courts and the procedural law becomes Arbitration Act, 1996 of UK. But if the for any other reason parties may choose any law of a foreign country as the law governing the contract or substantive law, then the arbitrators have to interpret the contract and decide the disputes as per that law. In such matters the firm and its partners take the assistance of a prominent lawyer having strong exposure to that foreign law, to assist our arguing counsel. In case of any challenge preceding the firm shall use the services of its UK qualified Associate lawyer (or any other jurisdiction as required). Due to this capability the Firm is able to effectively cut the costs of arbitration and keep them within the reasonable levels.
Enforcement of Foreign Awards Passed as Per ICC Rules: The Rules does not affect the enforceability of a foreign award, since it governs only the management of the arbitration. Only the seat of arbitration is relevant to the enforceability of a foreign award in a particular country. Normally the New-york Convention countries recognize the other signatories of the convention, leaving certain exemptions. The firm can assist the parties from the stage of appointment of competent arbitrators either from UK or from neutral country or from India till the delivery of the final award. The firm also can assist clients to execute the international arbitration award passed as per ICC Rules either in India or in any other country.
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