ICAC and MAC at the Russian Chamber of Commerce and Industry Have Deposited Their Arbitration Rules with the Ministry for Justice
On 27 January 2017, the Ministry for Justice of the Russian Federation decided to deposit the arbitration rules of the International Commercial Arbitration Court (ICAC) and the Maritime Arbitration Commission (MAC) at the Russian Chamber of Commerce and Industry, as reported on the website of the Chamber.
The deposited rules are applicable to international commercial arbitration, as well as to arbitration of domestic and corporate disputes.
According to the provisions of the Law on Arbitration in force since 1 September 2016, the ICAC and the MAC are the arbitral institutions entitled to perform the functions of permanent arbitration institutions without a prior authorization from the Russian Government. At the same time the ICAC and the MAC have to comply with the requirements established by the Law on Arbitration with respect to arbitration rules and recommended lists of arbitrators.