International Commercial Arbitration , UNCITRAL Model law on International Commercial arbitration , Indian Arbitration and Conciliation arbitration , Indian Arbitration and Conciliation Act 1996, Enforcement of foreign arbitral award

International commercial arbitration is a form of dispute resolution that involves the use of an impartial arbitrator or a panel of arbitrators to settle disputes between parties from different countries. This method of dispute resolution is often used in international business transactions where parties wish to avoid the uncertainty and expense of litigation in national courts.

The United Nations Commission on International Trade Law (UNCITRAL) has developed a Model Law on International Commercial Arbitration that provides a framework for the conduct of international commercial arbitration proceedings. The Model Law has been widely adopted by countries around the world, including India.

In India, the Arbitration and Conciliation Act of 1996 governs the law of arbitration in the country. The Act provides for the establishment of an arbitral tribunal, the conduct of arbitration proceedings, and the recognition and enforcement of arbitral awards. The Act is based on the UNCITRAL Model Law and is aimed at providing a modern and efficient framework for the resolution of disputes through arbitration.

Under the Act, parties are free to choose the rules governing the arbitration proceedings, the place of arbitration, and the language used in the arbitration. The Act also provides for the appointment of arbitrators and the conduct of the arbitration proceedings, including the submission of evidence and the making of awards.

In India, the enforcement of foreign arbitral awards is governed by the provisions of the Arbitration and Conciliation Act. Under the Act, a foreign arbitral award may be enforced in India if it meets certain conditions, including that the award is final and binding, that it arises out of a commercial relationship, and that it is made in a country that is a party to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.

Overall, the Indian Arbitration and Conciliation Act provides a modern and efficient framework for the conduct of international commercial arbitration proceedings in India, and the country has been increasingly recognized as a hub for international arbitration in the Asia-Pacific region.