MCIA is a neutral, independent, not-for- profit organization which facilitates the impartial administration of arbitration proceedings.
2. Flexible
The Arbitration Rules of the MCIA (“MCIA Rules”) not only reflect the best practice in arbitration from around the world but are also flexible, simple, and adaptable to parties’ needs. For example, parties can decide on the number of arbitrators, relevant qualifications of the arbitrators, seat of arbitration, venue of hearings and meetings, governing law of the contract, law governing the arbitration agreement, and language.
3. Accessible
The MCIA Secretariat is available to answer questions from parties and their counsel regarding any queries and concerns in relation to the conduct of arbitration proceedings under the MCIA Rules.
4. Accelerated Timeline
The MCIA Rules provide an accelerated procedure for low-value or simple disputes (the "Expedited Procedure"), where the Chairman determines that the Expedited Procedure is appropriate.
5. Availability of Emergency Arbitrator
The MCIA Rules provide that in cases of exceptional urgency, a party requiring emergency interim relief, prior to the constitution of the tribunal, may apply to the Registrar for the appointment of an Emergency Arbitrator.
6. Upfront schedule of fees
The MCIA Rules provide for ad-valorem fee structure that is in proportion to the value of the sum in the dispute. This assists the parties in calculating the approximate cost of arbitration under MCIA Rules before commencing proceedings.
7. Supervision
The MCIA Secretariat and the Council supervise the conduct of arbitration proceedings under the MCIA Rules. This helps to ensure adherence with procedural timelines and eases the administrative burden on the parties and arbitrators.
8. Multi-party and Multi-contract arbitrations
The MCIA Rules contain specific provisions which deal with issues of multi-party and multi-contract arbitrations, which improve the efficiency and cost-effectiveness of proceedings.
9. Scrutiny of awards
The MCIA Rules provide for the scrutiny of draft awards by the Registrar before they are released to the parties. Without affecting the Arbitral Tribunal's liberty to come to a decision, the scrutiny process helps reduce the likelihood of administrative errors in the award and make enforcement problems less likely.
