The International Commercial Arbitration Court at the Chamber of Commerce and Industry of Ukraine (ICAC)

The International Commercial Arbitration Court at the Chamber of Commerce and Industry of Ukraine (ICAC) is an independent permanent arbitration institution (arbitration court) that operates in accordance with the Law of Ukraine “On International Commercial Arbitration”, which approved its Regulations.

The Chamber of Commerce and Industry of Ukraine approves the ICAC Regulations, the procedure for calculating the arbitration fee, the rate of arbitrators’ fees and other costs of the court, and facilitates its activities.

The legal status of the International Commercial Arbitration Court at the Chamber of Commerce and Industry of Ukraine (ICAC), i.e. its legal personality, organization of activities, competence, is established:

 the Law of Ukraine "On International Commercial Arbitration" dated February 24, 1994;
 Regulations on the International Commercial Arbitration Court at the Chamber of Commerce and Industry of Ukraine, which is Appendix 1 to the said Law;
 Regulations of the International Commercial Arbitration Court at the Chamber of Commerce and Industry of Ukraine.

Annex I to the Law of Ukraine
On International Commercial Arbitration
of 24 February 1994
STATUTE ON THE INTERNATIONAL
COMMERCIAL ARBITRATION COURT AT THE
UKRAINIAN CHAMBER OF COMMERCE AND
INDUSTRY

1. The International Commercial Arbitration Court is
   an independent permanent arbitration institution
   (third-party tribunal) operating under the Law of
   Ukraine On International Commercial Arbitration.
   The Ukrainian Chamber of Commerce and Industry
   approves the Rules of the International Commercial
   Arbitration Court, the schedule of arbitration fees,
   the rates of the arbitrators’ fees and other expenses
   of the Court, and assists the Court in other ways to
   discharge its duties.
2. Pursuant to an agreement of the parties, the
   following may be referred to the International
   Commercial Arbitration Court:
   disputes arising out of contractual or other civil
   law relationships connected with foreign trade
   and other kinds of international business where
   the place of business of at least one of the parties
   is located abroad; or
   disputes between enterprises with foreign
   investment, international associations and
   organizations established in the territory of Ukraine
   or between members thereof, or disputes between
   them and other subjects of law of Ukraine.
   Civil law relationships resulting in disputes that
   may be referred to the International Commercial
   Arbitration Court for arbitration shall include, in
   particular, the relationships concerning purchase
   and sale (delivery) of goods, labour and other
   services, exchange of goods and/or services,
   carriage of goods and passengers, commercial
   representation and agency, leasing, scientific
   and technological exchange, exchange of other
   intellectual products, construction of industrial and
   other objects, licensing operations, investment,
   crediting and settlement operations, insurance,
   joint ventures and other forms of industrial and
   business cooperation.
   STATUTE ON THE ICAC
   8| RULES | OF THE INTERNATIONAL COMMERCIAL ARBITRATION COURT
   AT THE UKRAINIAN CHAMBER OF COMMERCE AND INDUSTRY
3. The International Commercial Arbitration Court
   shall also accept for arbitration disputes subject
   to the jurisdiction thereof by virtue of international
   agreements of Ukraine.
4. An award rendered by the International Commercial
   Arbitration Court shall be carried out by the parties
   voluntarily within the period of time fixed by the
   Court. If no period is fixed in the award, the award
   shall be carried out immediately. An award that is
   not carried out voluntarily within the fixed period
   of time shall be enforced according to the law and
   international agreements.
5. In cases subject to the jurisdiction of the International
   Commercial Arbitration Court, the President of the
   Court may, at the request of a party, determine the
   amount and the form of the security for the claim.
6. The International Commercial Arbitration Court at
   the Ukrainian Chamber of Commerce and Industry
   has its own seal reproducing its name in Ukrainian
   and English languages and imaging a sword and
   the scales of justice.