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Overview
Set up in 1927, the Federation of Indian
Chambers of Commerce and Industry (FICCI) is the largest
and oldest apex business organization of Indian business.
With a nationwide membership of over 2000 corporates
and over 500 chambers of commerce and business associations,
FICCI espouses the shared vision of Indian businesses
and speaks directly and indirectly for over 2,50,000
business units.
In order to provide arbitral services
for settlement of commercial disputes of a domestic
as well as international nature, FICCI, in the year
1952, established FACT (formerly known as the FICCI
Tribunal of Arbitration [FTA]). FACT was set up to offer
dispute resolution services primarily to FICCI members
and other parties who may desire to submit their disputes
to FACT. FACT, headquartered at New Delhi with offices
spread all across the country and overseas, has an active
panel of prominent arbitration experts on its board.
Besides, it has signed international co-operation agreements
with several arbitration organisations around the world
for facilitating international arbitration.
FACT services and rules
The FACT mission is to resolve business disputes outside
the traditional framework offered by courts of law,
i.e. by various alternate dispute resolution methods,
namely arbitration and conciliation, as the case may
be. Owing to its unique supervision and management in
both arbitration and conciliation, FACT is positioned
to offer its clientele customized follow-ups and quality
service in an atmosphere of security, transparency and
confidentiality.
FACT provides a wide range of services for parties engaged
in trade and commerce with and within the region. As
an institutional arbitration centre, FACT's outlook
is to provide efficient, flexible and impartial administration
of dispute resolution proceedings. The services it offers
include administrative and support services, such as
secretarial and other professional assistance for the
holding of arbitration and conciliation proceedings
along with supervision of arbitration and conciliation
proceedings, appointment of arbitrators, choosing the
venue for the arbitration and fixation of the fees of
arbitrators and conciliators. FACT maintains a Panel
of arbitrators / conciliators of the highest ability
and professional competence, recognised for their diverse
knowledge and practical experience in their respective
fields
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bestow this Alternate Dispute Mechanism Forum with
a fresh lease of life and a strengthened purpose,
it was decided to expand the scope and ambit of
FTA to include Fast Track Institutional Arbitration,
Conciliation and Mediation for amicable and quick
settlement of industrial and trade disputes. Consequently,
in order to create public awareness and promote
fast track arbitration and conciliation, FICCI Tribunal
of Arbitration was renamed as FICCI Arbitration
and Conciliation Tribunal (FACT). |
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the year 2005, FACT has embarked on several new
initiatives, one of which was to promote a greater
use of conciliation under the FACT Rules of Conciliation.
As part of the new initiative in all new arbitration
cases, FACT is bringing the alternative of optional
conciliation to the attention of the parties. |
Our Aim
- To administer international and domestic
arbitration under the Rules of FACT.
- To promote public confidence in the
ADR mechanism of conciliation / mediation as a process
for resolving disputes and to create a culture of
settlement of disputes through such mechanisms.
- To establish and maintain a comprehensive
Panel of Arbitrators and Conciliators from an extensive
array of distinguished and impartial persons, including
retired Judges, Advocates, Chartered Accountants,
Executives, Engineers, Company Secretaries, Businessmen,
Foreign Nationals, Maritime Experts etc.
Information in relation to arbitrators
and conciliators, of varied legal backgrounds can be obtained
from the FACT Head Office at Delhi.
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