In news– The Chief Justice of India Justice N.V. Ramana laid the foundation stone for the construction of a building for the International Arbitration and Mediation Centre-Hyderabad (IAMC-H) at Raidurg in Hyderabad recently.
- IAMC-Hyderabad is India’s first arbitration centre for alternative dispute resolution.
- It is operating from a temporary campus at Nanakramguda, following its inauguration in December 2021.
- Proposed by the International Arbitration and Mediation Centre Trust, it will assist in resolving commercial and legal conflicts by providing efficient, cost-effective, and impartial methods of eliminating hurdles at various stages of the life cycle of the conflict.
- It provides both Arbitration and Mediation services, by combining first-class client service, cutting-edge technology, top-notch facilities and highly experienced arbitrators and mediators to provide tailored, in-person, virtual and hybrid conflict resolution services.
- It also facilitates the adoption of mediation and arbitration – through the processes of Med-Arb and Arb-Med-Arb, by which parties get the advantages of both arbitration and mediation in finding a resolution to their disputes.
- Its operations will be managed by a Secretariat of proficient and qualified staff and guided by an autonomous Governing Council consisting of legal luminaries, industry veterans and experts in the field of arbitration and mediation from India and abroad.
- A highly eminent board of Trustees composed of senior Judges and the Law Minister of Telangana shall oversee the functioning of the Centre at a policy level.
- IAMC would also provide immense flexibility by enabling provisions for administering arbitrations not only in accordance with the Rules of the Centre but also ad-hoc arbitrations as well where parties have chosen to use another set of rules such as UNCITRAL.