The International Commercial Arbitration Court (ICAC) at the Chamber of Commerce and Industry of the Russian Federation is a successor to the Arbitration Court at the Chamber of Commerce and Industry of the USSR which was set up in 1932 and up to 1987 was called the Foreign Trade Arbitration Commission at the Chamber of Commerce and Industry of the USSR (previously at the All-Union Chamber of Commerce). Like its predecessor it operates in accordance with the Resolution of the Supreme Soviet of the Russian Federation of January 20, 1993.

At present, operation of the ICAC is regulated by the Russian Federation law of July 7, 1993 "On International Commercial Arbitration" (Bulletin of the Congress of People's Deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1993, No. 32, p. 1240), the Statute of the ICAC, which is an annex to the aforementioned law, and the ICAC Rules.

The 1993 law (Para. 2 of Article 1) provides that the sphere of international commercial arbitration includes the following categories of disputes. First, disputes arising out of contractual or other civil-law relationships in the course of foreign trade provided that the place of business of one of the parties is situated abroad. Second, disputes arising between enterprises with foreign investments, international organizations and associations set up in the territory of the Russian Federation between themselves, disputes between their participants and also their disputes with other subjects of law of the Russian Federation.

The Statute of the ICAC defines the jurisdiction of the ICAC.

Pursuant to an agreement between the parties the ICAC may entertain the two categories of disputes mentioned above.

It is noteworthy that the first category of disputes refers to relationships which arise not only out of contracts but also out of non-contractual relationships, including infliction of damage.

Pursuant to Para. 5 of Article 1 of the law the ICAC also entertains disputes which are subject to its jurisdiction by virtue of international treaties and agreements of the Russian Federation. They include international agreements on arbitration signed by the USSR.

The ICAC is not part of the judicial system of the state.

The Statute of the ICAC declares that the ICAC is an independent permanently functioning arbitral institution (third-party tribunal). The ICAC has been set up at the Chamber of Commerce and Industry of the Russian Federation. The Chamber of Commerce and Industry of the Russian Federation to which the ICAC is associated is "a non-state non-profit organization which unites Russian enterprises and Russian entrepreneurs."

Under the ICAC Rules disputes may be referred to the ICAC only if the parties agree that disputes between them will be settled by the ICAC rather than a court.

The Rules also provide that arbitrators must be elected or appointed from the number of persons possessing adequate special knowledge in resolving disputes related to the ICAC jurisdiction.

To help the parties look for arbitrators whom they want to elect every five years the Chamber of Commerce and Industry of the Russian Federation approves a list of arbitrators indicating their data.

At present, the list of arbitrators includes more than 100 specialists some of them being foreign citizens.

The arbitration fee to be paid for each claim filed with the ICAC is calculated in accordance with the Schedule of Arbitration Fees and Costs appended to the ICAC Rules.