The High Court of Jammu and Kashmir has obtained approval to set up an International Arbitration Center, with offices at Srinagar and Jammu. This will enable speedy and expeditious resolution of disputes through an Alternate Dispute Resolution mechanism.
The Jammu and Kashmir International Arbitration Centre (JKIAC) will be annexed to the High Court Benches at Srinagar and Jammu.
The Jammu and Kashmir International Arbitration Centre (Arbitration Proceedings) Rules 2020 have been framed. The High Court's Chief Justice shall be the Patron-in-Chief of the JKIAC. To monitor and oversee the Centre, an Arbitration Committee is to be established.
Jammu & Kashmir International Arbitration Centre (JKIAC) (Internal Management) Rules, 2020 have also been framed.
The Chairperson of the Arbitration Committee shall be nominated by the Chief Justice of the Common High Court of Jammu & Kashmir and Ladakh under Rule 3 of the Jammu & Kashmir International Arbitration Centre (JKIAC) (Internal Management) Rules, 2020.
According to the JKIAC (Internal Management) Rules, 2020, the empanelment of arbitrators for the JKIAC shall be done in accordance with the Rules. The applications of Chartered Accountants, Bureaucrats, Engineers, Architects, Professors, retired Judicial Officers etc. to be empanelled as an arbitrator shall be submitted to the Arbitration Committee, and shall be considered subject to qualifying the minimum basic criteria and after an interaction.
On the recommendation of the Arbitration Committee, the Chief justice shall appoint Law Researcher(s) for assisting in research for JKIAC Publications; maintaining statistical data of JKIAC; and for providing assistance to the Arbitration Committee or any sub-committee appointed under the JKIAC (Proceedings) Rules. The Chief Justice shall have the power to terminate the tenure of any of the Law Researchers without assigning any reason at any time on the recommendation of the Arbitration Committee.