Articles of Association Act Of Arbitration Center of the Iran Chamber
Chapter One – Generalities
In execution of the Para. “H” to Article 2
of Act concerning amendment of clauses of Iran Chamber of Commerce,
Industries and Mines Act ratified on December 6, 1994 the Arbitration
Center of the Iran Chamber, ("ACIC”), hereinafter referred to as
“Center" is established according to the provisions of the present
Articles of Association, and affiliated to the aforesaid Chamber.
The subject of activity of the "Center" is
settlement of the commercial disputes including domestic and foreign,
The venue of the “Center" shall be in the city of Tehran.
Chapter Two - Organs
The "Center" consists of the following organs:
A- Board of Directors
B- Secretary General
The Board of Directors shall be composed of
the president and one of the vice-presidents of Iran Chamber, president
or vice-president of Tehran Chamber, Secretary General of Iran Chamber
and three businessmen, knowledgeable and reputable directors in the
field of industries and mines as elected by the Board of the
Representatives of Iran Chamber.
Note 1- The term of office of the Board of
Directors is three years and the presiding member of the Board shall be
the president of Iran Chamber. Re-election of the Board members shall be
of no restriction.
Note 2- The Board of Directors of the
"Center" determines the procedure for its meetings, and the presence of
at least 5 members is necessary for meeting quorum. The resolutions of
the Board shall be effective and valid when approved by relative
The duties, powers and authorities of the Board of Directors are inter alias as follows:
-To prepare the internal regulations for
providing the services by the "Center", the arbitration costs (excluding
the arbitration tariffs) and for the financial and employment affairs
of the "Center" and submit the same for approval by the Board of
Representatives of Iran Chamber.
Note: The arbitration tariffs shall be determined on the basis of the rules and regulations in force in the country.
-To prepare and propose the annual budget to the Board of Representatives of Iran Chamber for approval.
-To prepare amendment of these Articles of
Association and to submit the same to the relevant authorities through
presiding Board of Iran Chamber, for approval.
Election and dismissal of the Secretary General of the "Center".
The Secretary General of the “Center" shall
be elected for three years from among the experienced Iranian jurists,
familiar with the domestic and international commercial issues, and
shall perform his duties according to the decisions approved by the
Board of Directors and the provisions of these Articles of Association.
The re-election of the Secretary General shall be of no restriction.
Note: The Secretariat of the "Center"
functions under presiding and supervision of the Secretary General. The
details of functions of the Secretariat shall be determined at the
proposal of the Secretary General and approval by the Board of
The list of individuals who are eligible
for arbitration shall be prepared by the Secretary General from among
the jurists, businessmen and the other knowledgeable, reputable and
experienced individuals with sufficient knowledge of the domestic and
foreign commercial rules and usages, and shall be proposed by the
Secretary General for the approval by the Board of Directors.
Note-The members of Board of Directors and
the Secretary General of the "Center" cannot be appointed as arbitrator
by the “Center”.
Chapter Three -Miscellaneous provisions
The costs and expenses of the “Center”
shall be financed out of the source of amount received from the parties
to the dispute and if necessary, out of the source of revenues of Iran
The general rules and procedure for the arbitration at the "Center” shall be as follows:
A-In the international commercial
disputes, according to the International Commercial Arbitration Law
ratified in September 17, 1997.
B-In the domestic commercial
disputes, according to the provisions of the Civil Procedure Code for
Public and Revolutionary Courts approved on April 10, 2000 (The Part on
The governmental and public organizations
are obliged to respond to the inquiries of the “Center" made within the
scope and pursuant to the laws and regulations.
The general rules of procedure as to
arbitration subject of para.3 Article 57 of the Act concerning Economic
Cooperative Sector of Islamic Republic of Iran approved in September 4,
1991 in relation to domestic and international commercial disputes shall
be, respectively, the Civil Procedure Code for the Public and
Revolutionary Courts approved in April 10, 2000 (The part on the
Arbitration) and the International Commercial Arbitration Act ratified
in September 17, 1997.
This Act including 12 Articles and 5 Notes
was enacted in the open session of Sunday February 3, 2002 of the
Islamic Consultative Assembly and was approved by the Guardian Council
in February 13, 2002.