The first arbitral institution providing institutional arbitration in Iran, the Arbitration Center of the Iran Chamber of Commerce (“ACIC”), released the latest edition of its arbitration rules on 19 February 2023. The new ACIC arbitration rules (“New Rules“), which came into effect in May 2023, replace the previous 2007 edition (“2007 Rules”). The New Rules…
This post, which follows up on a recent submission in respect of the impact of asset freezes on arbitral and financial institutions, addresses some of the issues that may be faced by such institutions as a result of restrictions that form part of the United States’ secondary sanctions against Iran. A third and final post…
A significant number of disputes related to Intellectual Property Rights (“IPR”) that have been settled by arbitration are reflected in the 2011-2020 World Intellectual Property Organization (“WIPO”) Caseload Summary. The expansion of the notion of arbitrability to include IPR disputes in recent years illustrates the global trend toward arbitration of IPR disputes despite concerns over…
Introduction For the purpose of this article, there are some words and principles that shall be defined before raising the main issue. Article 412 of the Commercial Code of Iran (CCI) defines the bankruptcy of an entity (natural or legal person) as the result of its cessation in payment of its debt. In this situation,…
In January 2020, following the Executive Order of President Trump, the United States imposed additional sanctions targeting predominately Iran’s metals sector including copper, iron and steel manufactures (the “Order”). These sanctions were designed to expand secondary sanctions to cover new industry sectors such as mining, textiles and construction. The secondary sanctions aim to deter and…
Amid the celebrations that accompanied the conclusion on 14 July 2015 of the Joint Comprehensive Plan of Action (JCPOA) between the E3/EU+3 (China, France, Germany, Russia, the UK and the U.S., with the EU Commission) and Iran, few observers paid attention to the Dispute Resolution Mechanism (DRM) embedded in two paragraphs, ¶¶ 36 and 37,…
Introduction The Arbitration Center of Iran Chamber of Commerce (hereafter “ACIC”) was established in 2002, following approval by the parliament of Iran as an affiliate to the Iran Chamber of Commerce. However, it has a distinctive and independent legal character. The ACIC is the first institution to incorporate institutional arbitration into the legal system of…
Introduction The United States announced the reinstatement of sanctions on Iran in May 2018. Following that, the EU responded by revising their Blocking Regulation (Regulation 2271/96) in August 2018. The Blocking Regulation was designed to safeguard European entities from the extraterritorial reach of the U.S. sanctions. The uncertainty surrounding the scope of application and the nature of blocking…
Welcome to the Kluwer Arbitration Blog, Mr. Rezvanian! We are grateful for this opportunity to learn more about the Tehran Regional Arbitration Centre (“TRAC”) and your experience with international arbitration in the region. To start, can you briefly introduce yourself and explain your role at TRAC? My educational background is quite diverse. I have…
Authors: Amirhossein Tanhaei, Gheidi & Associates and Shiva Ghahremani, Konrad & Partners As all eyes are focused on the changing political scene in Iran, and notably the lifting of international sanctions in relation to economic activities, thoughts also shift to the legal environment. In particular, what is required to ensure a stable, predictable framework, and…
Iran. The country with enormous trade potential and a juicy market for many foreign companies around the globe. Following partial lifting of sanctions in Iran, it is expected that more and more businesses from different industries will enter the Iranian market. Needless to say, along with the development of international trade in Iran more disputes…
In international arbitration, the effect of international sanctions regulations usually arises at two key stages. First, at the commencement of arbitration, where arbitral institutions, arbitrators and counsel involved in the proceedings must consider if they are potentially in breach of such regulations. Secondly, at the enforcement stage, if an award is challenged under the New…
