What does ICDT mean in INTERNATIONAL
ICDT stands for International Commercial Disputes Tribunal. It is an independent and impartial tribunal that provides dispute resolution services for international commercial disputes. The ICDT was established in 1999 and is based in Geneva, Switzerland.
ICDT meaning in International in International
ICDT mostly used in an acronym International in Category International that means International Commercial Disputes Tribunal
Shorthand: ICDT,
Full Form: International Commercial Disputes Tribunal
For more information of "International Commercial Disputes Tribunal", see the section below.
Functions of the ICDT
- Arbitration and Mediation: The ICDT provides arbitration and mediation services for international commercial disputes. Arbitration is a binding form of dispute resolution, while mediation is a non-binding process that helps parties reach a mutually acceptable solution.
- Expert Determination: The ICDT also provides expert determination services for international commercial disputes. Expert determination is a process in which a neutral expert is appointed to make a binding decision on a specific issue in dispute.
- Drafting of Dispute Resolution Clauses: The ICDT can assist parties in drafting dispute resolution clauses for their international commercial contracts. These clauses specify how disputes will be resolved in the event of a breach of contract.
Key Features of the ICDT
- Independence and Impartiality: The ICDT is an independent and impartial tribunal that is not affiliated with any government or organization.
- Confidentiality: The proceedings of the ICDT are confidential, unless otherwise agreed by the parties.
- Flexibility: The ICDT offers flexible dispute resolution procedures that can be tailored to the specific needs of the parties.
- Enforcement: The awards of the ICDT are enforceable in over 150 countries under the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
Essential Questions and Answers on International Commercial Disputes Tribunal in "INTERNATIONAL»INTERNATIONAL"
What is the International Commercial Disputes Tribunal (ICDT)?
The ICDT is an international arbitration institution established in 1993 to provide a specialized forum for the resolution of commercial disputes. It is based in Paris, France.
What types of disputes does the ICDT handle?
The ICDT handles a wide range of commercial disputes, including those arising from contracts, joint ventures, mergers and acquisitions, and intellectual property.
What is the process for submitting a dispute to the ICDT?
To submit a dispute to the ICDT, parties must file a Request for Arbitration, which must include certain information, such as the names of the parties, the nature of the dispute, and the relief sought.
Who are the arbitrators appointed by the ICDT?
The ICDT maintains a roster of experienced arbitrators from various jurisdictions and backgrounds. Arbitrators are appointed by the ICC Court. The parties can also agree on the appointment of specific arbitrators.
What are the costs of arbitration at the ICDT?
The costs of arbitration at the ICDT vary depending on the complexity and length of the proceedings. The ICDT provides a fee calculator on its website to estimate the costs.
What is the enforcement of ICDT awards?
ICDT awards are generally enforceable under the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. This means that awards can be enforced in over 150 countries.
Final Words: The ICDT is a valuable resource for businesses and individuals involved in international commercial transactions. The ICDT provides a neutral and efficient forum for resolving disputes, and its awards are enforceable in a wide range of jurisdictions. By incorporating ICDT dispute resolution clauses into their contracts, parties can help to ensure that their disputes will be resolved fairly and efficiently.
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