The International Commercial Arbitration Court under the European Arbitration Chamber (hereinafter referred to as the ICAC under the EACh) is an independent permanent arbitration court, operating under the Belgian Judicial Code (Articles 1676-1723) and Rules.
Principles:
- professionalism of arbitrators
- judiciary's impartiality, free from political influence during the case consideration
- optimality of terms of case consideration
- efficiency of work of the Secretariat
- optimal amount of arbitration costs
- strict confidence of the arbitration proceeding
- parties' autonomy concerning language and law
- availability of supporting services, such as: interpreting service, shorthand service, IT-service, premises in the place of arbitration (proceeding)
RECOMMENDED ARBITRATION CLAUSE
Future disputes
The parties, entering the contract and wishing that the disputes that may arise in the future are referred to the Arbitration Court according to the ICAC Rules, are recommended to include the following arbitration clause (words or blanks in square brackets should be removed or filled out correspondently) into the contract:
"Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by the ICAC at the European Arbitration Chamber, Brussels, Belgium, according to the Rules of this ICAC, which, as a result of referring to it, is considered as the part of this clause.
The number of arbitrators shall be- [one / three].
The seat, or legal place, of arbitration shall be [city and/or country].
The language to be used in the arbitral proceedings shall be [ ].
The governing law of the contract shall be the substantive law of [country]."
Existing disputes
If there is a dispute between the parties by the contract, and at that, there is no agreement about the dispute settlement by the proceeding between the parties, or if the parties wish to change the existing clause for the case of dispute settlement so that it provides the dispute settlement in the ICAC, the following clause is recommended for these parties (words or blanks in square brackets should be removed or filled out correspondently:
"Dispute having arisen between the parties concerning [ ], the parties hereby agree that the dispute shall be referred to and finally resolved by the ICAC at the European Arbitration Chamber, Brussels, Belgium, according to the Rules of this ICAC.
