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In case of disputes in matters of Documentary Credits be referred to National or International Arbitration - if so what should be the parameters for interim interlocutory relief.
First and foremost I would like to thank you Sir for posting such a practical question and a real time scenario problem and it is a privilige for me to have an opportunity to participate with my limited knowledge in such a excellent discussion and a learning factor as well.
With in my Knowledge, Can. All agreements with a arbitration clause ( i think section 5 of IA&C Act) can proceed with Arbitration as an Alternate Dispute Resolution System or Mechanism.
Comes to second part of the question i.e Interlocutory relief, You need to prove Prima facie case is favourable to you, Balance of Convenience in case needs to change/modify the relief in future, and the Irreparable loss causing to the party if not granted interim relief which cannot be compensated in way of any terms. Those are the important points to be prove to obtain interlocutory relief.
I expect other legal luminaries and experts answers in this field to enhance my knowledge.
Once again thank you for a excellent question. Regards.
