Current mechanisms for resolving international disputes are not keeping pace with the cross-border nature of 21st-century commerce. The Indo-Italian bilateral trade and investments are burdened by conflicting regulatory frameworks, biased and inefficient decision-makers, and uncertain dispute resolution proceedings, impeding the enforcement of judgments.
An increasing number of Italian and Indian companies are discouraged to approach the respective markets, because of lack of confidence in neutrality of Courts, expertise and experience in International disputes, risk of parallel or multiple litigation, unpredictable time and costs, obstacles to enforcement of judgements.
The IICCI, as per its mission to facilitate the bilateral trade and investments between India and Italy, has established “AD IDEM – The Dispute Resolution Centre”, with the purpose to provide companies with efficient, neutral, objective, and fair dispute resolution services.
AD IDEM is a Latin adverb commonly used in the legal language. It means: “in agreement”. We decided to use an Italic word to identify an innovative service aiming to reduce the barriers to bilateral trades and investments between Italy and India. AD IDEM has been developed by a Steering Committee appointed by the IICCI and made of 13 Indian and Italian experts in international law and dispute resolution to prepare the set of rules governing the bilateral dispute resolution services. The rules have been outlined referring to the most important international guidance for Arbitration (UNCITRAL), the Italian law and the Indian law including the latest Indian Arbitration and Conciliation (Amendment) act.
AD IDEM will offer two main services to achieve one goal “dispute resolution”:
Mediation: Process of resolving disputes wherein an independent third party, assist the parties involved in arriving at agreeable solution
Arbitration: a substitute of public trial, with no need of going court, wherein an independent third party analyses the entire situation
The IICCI will guarantee that the proceedings are managed with competence and impartiality. AD IDEM will be governed by an independent and competence Board composed by the IICCI Chairman, 2 Italian and 2 Indian experts in international arbitration. Competence and experience are the strength points of this innovative services.
AD IDEM will evaluate and accredit Mediators and Arbitrors according to stringent criteria of education, knowledge of Italian and Indian regulatory framework and work experience in international disputes and arbitration. The official register and the professional profile of each professional will be publicly available to all the interested parties.
Transparency will also be a key feature: all fees charged to the companies (administration, mediation, arbitration) are set by the AD IDEM according to the value of the dispute and publicly available. The fees charged are lower than any other international arbitration chamber.
The rules established for both the Mediation and Arbitration address specific provision to predict the time to resolve the dispute. AD IDEM will also provide information and training services to help companies in properly lay down the Mediation/Arbitration clause and to understand how to use these services.
The benefit provided to the Indian and Italian companies by AD IDEM are the following:
Impartiality - no bias or potential conflict of interest.
Competence - Mediators/Arbitrators are accredited for their deep knowledge of both the Italian and Indian regulatory framework and practice.
Flexibility - The Parties are free to choose Mediators/Arbitrators among those included in the AD IDEM register, the seat of the arbitration, the language of the proceedings
Confidentiality - AD IDEM ensure confidentiality of every document delivered by each Party to the General Secretariat.
Faster resolution time – the procedures are laid down to ensure that the final resolution of each dispute is achieved in reasonable and predictable time.
Reduced legal costs - All fees charged for resolving a dispute are fixed and publicly available. No hidden costs.