The India International Arbitration Centre (IIAC) is pleased to announce that it has entered into a Memorandums of Understanding (MOUs) with various international arbitration and mediation centres, across Asia, namely, (i) Asian Institute of Alternative Dispute Resolution (AIADR), Malaysia; (ii) Borneo International Centre for Arbitration and Mediation (BICAM); (iii) Maldives International Arbitration Centre; (iv) Vietnam Traders Arbitration Centre (VTA).
The signing ceremony for the MoU took place at the ongoing Asia ADR Summit 2024 organised by AIADR in collaboration with other international arbitration and mediation centres at Bangunan Sulaiman, Kuala Lumpur, Malaysia from 26-27 July 2024. Theme of the Summit is “Beyond Boundaries: The Rise of Asia in Global Dispute Resolution.”
These MOUs are a significant step towards fostering international collaboration in the area of alternate dispute resolution (ADR). MOUs will promote international arbitration as a preferred mode of dispute resolution for resolving international disputes.
The signing ceremony took place in the presence of Justice Hemant Gupta, Former Judge, Supreme Court of India and Chairperson, IIAC; Mr. Ganesh Chandru, Member, IIAC; Datuk Prof. Sundra Rajoo, President AIADR and other eminent experts in the field of ADR.
Mr. Vinay Kumar Sanduja, Registrar, IIAC signed MOUs on behalf of IIAC with representatives from abovesaid international arbitration and mediation centres.
Among other things, the MOU envisions collaboration to explore the development and provision of promotion of ADR as preferred mode of dispute resolution through joint research and educational initiatives, exchanging best practices, organizing joint conferences, workshops, and training programs, amongst others.