- The party desiring reconciliation shall address a request to IICRA conveying the details of reconciliation request.
- Within 7 days from the date of receipt, the application shall be examined by the Legal Department of IICRA and it shall be evaluated afterward and a report shall then be submitted to the Executive Director of IICRA.
- The Executive Director of the Center shall inform the other party in the dispute of the request for Reconciliation on certified registered email.
- Within a period of maximum 15 days, the other party had to accept or refuse the reconciliation request in order to know his participation in the conciliatory attempt, and the submission of his requests, if any.
- Such period shall be extended by a written request submitted by either party or both.
'If the other party doesn’t respond within the specified time or refuses reconciliation efforts expressly or implicitly. IICRA shall then notify the party requesting reconciliation in writing of its failure as soon as possible".
"If other party accepts the reconciliation attempt, IICRA shall then nominate one or more Reconcilers (depending on the nature of the dispute) and inform the parties about their expertise accordingly."
The Parties have the right to accept or reject the Reconciler/ Reconcilers nominated by IICRA.
If The Parties expressly or implicitly agree to the nomination of the Reconciler/ Reconcilers by IICRA within a period of 7 days from the date of notification by the parties of the nomination of the Arbitrator / Arbitrators (i.e. no objection to the nomination is received by IICRA), the Executive Director shall forward the reconciliation request and documents along with relevant attachments to the Reconciler/ Reconcilers.
Reconciler/ Reconcilers shall manage the reconciliation efforts as he/they see fit (determination of time and venue) methods of persuasion, the convergence of views and proposal of mutual satisfactory solutions for both sides.
Reconcilers will be granted time to complete the reconciliation attempt in a period not exceeding more than 3 months from the date of receipt of the request for Reconciliation, and this deadline shall be renewed by a written agreement from both parties or without it, the efforts of reconciliation shall be considered failed.
The Reconciliation task shall come to an end either by signing a reconciliation agreement by the parties, certifying/documenting the assets of the Center and then in the competent court, having the strength of the executive bond, or the failure of the reconciliation efforts and formally informing the parties of the completion of the reconciliation efforts between parties.