عنوان مقاله [English]
Arbitration is a substitute and among the most important solutions for dispute settlement, in which the parties to a disagreement, by mutual accord, refer a controversy, to reach a binding, impartial, and effective agreement. As for the procedure, arbitration can be categorized into ad hoc versus institutional arbitration; in the latter, arbitration institutions organize and manage the arbitration proceedings, as a mediator and arbiter, in an attempt to accelerate as well as to facilitate and improve the proceedings. Such institutions, as per the regulations, have immunity for performing their duties, yet, according to general rules of liability, are liable against the parties to a dispute and third parties, and can be litigated. A major arbitration institution in Iran, the operation of which is based on and authorized by the statute of the Islamic Consultative Assembly, is Tehran Regional Arbitration Center (TRAC), incorporated through an agreement between the Islamic Republic of Iran and Asian-African Legal Consultative Organization, with rules based on The UNCITRAL Rules of Arbitration of 1976; the newly enacted rules of said center, subsequent to the required amendments to some of its facets, became enforceable from early March 2018.