Legal Guide To Iranian Market Booklets By J.Nouraei

 

Excerpts:

 

What is the acceptable form of an arbitration agreement according to the Law of International Commercial Arbitration (LICA)?

The form is varied. An arbitration agreement can be conceived by a document signed by the parties, or through a letter, facsimile, email and the like, indicating the creation of an agreement. If one of the parties in his application for arbitration or in his defense proclaims the existence of an agreement and the other party accepts it in practice, it is considered that there is an arbitration agreement.

 

Who is entitled to ask for arbitration?

All persons who are competent to litigate may ask for settlement of their disputes through arbitration, in line with the rules set out in LICA. Pending lawsuits already in the courts can be put to arbitration by mutual agreement of the parties. However, based on the stipulation of Principle 139 of the Iranian Constitutional Law, putting governmental and public assets to arbitration needs special permission.

 

 

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