London Court of International Arbitration (LCIA)hastaken a major decision with respect to its Arbitration services in India . With Effect from 1st June, 2016 the users of India will be served from the LCIA’s London office and the casework team based there only . This will include all those who have adopted LCIA India Rules and even LCIA India Rules based arbitration and mediation will no longer be offered.
It is pertinent to note that LCIA started its service in India way back in 2009. But, after realising the fact that even after 6 years though Indian parties have apparently become accustomed and content using the LCIA rules but still there are very less number of adopters of the clause of LCIA , they could not find a justifiable reason to continue LCIA India Rules as a separate offering.
Hence, LCIA has decided that the best way for it to serve the market in India is to do so from London rather , as what they had been offering prior to 2009.
The LCIA has geared up to keep providing high-quality, cost-effective and efficient administrative services towards arbitration under the LCIA Rules by developing its casework teams in London to ensure that they possess the cultural, language and legal expertise to provide services to clients in India. This actually necessitates a physical presence on ground in India for a better focused approach.
The LCIA will take the cases from 1st June, 2016 being administered in London and similarly, new referrals under the LCIA India Rules based on existing contracts and arbitration and mediation clauses (as at 1 June 2016) will be administered from London on the basis of the LCIA India Rules.
After 1st June 2016, the referrals based on contracts which include clauses referring arbitrations to LCIA India will not be accepted for administration and the LCIA India Rules will be amended to that effect.