Section 28 of IIAC : Section 28: Chamber Of Arbitration

IIAC

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Explanation using Example

Imagine a scenario where an Indian software company, TechSolutions, enters into a contract with a German manufacturing firm, AutoBuild, for the development of a custom software solution. The contract includes an arbitration clause that specifies any disputes arising from the contract will be settled through arbitration at the India International Arbitration Centre (IIAC).

During the project, a disagreement arises over the software's specifications and the payment schedule. TechSolutions and AutoBuild decide to invoke the arbitration clause. They approach the IIAC for resolution.

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