Arbitration Clause for Chabahar Port Dropped
- To expedite matters at the Chabahar port, Iran and India have chosen to bypass commercial arbitration in foreign courts.
- Instead, they will engage in investment arbitration or other alternative modes of dispute resolution.
- This approach prevents Iran from the need to modify its Constitution.
- Both parties have opted for arbitration following the guidelines set forth by the UN Commission on International Trade Law (UNCITRAL), a preference India holds over alternative international trade arbitration mechanisms.
- This joint decision not only advances the cooperation between India and Iran but also positively impacts broader regional ....
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