The Mumbai Centre for International Arbitration (MCIA) – a brand new institution which presents a fresh option for parties who agree to resolve India-related disputes by arbitration – launched its institutional arbitration rules on Wednesday 15 June 2016.
The Arbitration Rules of the MCIA, which reflect best arbitration practices from around the world, have now come into force and are available on the MCIA's website: http://mcia.org.in.
Parties may now elect to submit their disputes to MCIA arbitration by incorporating the MCIA model arbitration clause into their contracts (available on the website), or by amending their current agreements to provide for MCIA arbitration.
The MCIA has been established in a joint initiative between the Government of Maharashtra and the domestic and international business and legal communities. The MCIA is focused on administering India-related arbitrations to international standards and aims to become India’s premier forum for commercial dispute resolution.