Tehran Chamber of Commerce Arbitration Centre (TCCAC) is an independent non-profit center located in the city of Tehran (capital of Iran). As an affiliate to the Tehran Chamber of Commerce but with independent legal personality, TCCAC was set up in 2017 to meet the growing need for dispute resolution services in the Middle East. TCCAC employs various effective processes of arbitration and also Alternative Dispute Resolution techniques (ADR) such as conciliation, mediation and technical expertise.
With the leading principle aims at contributing to, and enriching the progress of the disputes settlement, TCCAC independently and impartially resolves economic and trade disputes and is completely free and independent from any type of influence or control.
It should be noted that Iran (Islamic Republic of) was among the governments to accept the arbitration model proposed by the United Nations Commission on International Trade Law (UNCITRAL Model Law). The modernization of arbitral law in Iran is also rooted in the adoption of the “New York Convention”. Now in accordance with the New York Convention, TCCAC awards are recognized and enforceable in 156 countries.
The main functions of TCCAC include:
1. Accepting international, foreign-related and domestic cases.
2. Offering other dispute resolution services in accordance with the agreement of the parties.
3. Providing services on demand (such as appointing arbitrators for institutional or non-institutional arbitration in accordance with the agreement and request of the parties).
4. Fostering domestic and international exchange and cooperation in arbitration and participating arbitration activities at home and abroad.
5. Parties could select an arbitrator outside of the list.