Set up in 1927, the Federation of Indian Chambers of Commerce and Industry (FICCI) is the largest and oldest apex business organization of Indian business. With a nationwide membership of over 2000 corporates and over 500 chambers of commerce and business associations, FICCI espouses the shared vision of Indian businesses and speaks directly and indirectly for over 2,50,000 business units.
In order to provide arbitral services for settlement of commercial disputes of a domestic as well as international nature, FICCI, in the year 1952, established FACT (formerly known as the FICCI Tribunal of Arbitration [FTA]). FACT was set up to offer dispute resolution services primarily to FICCI members and other parties who may desire to submit their disputes to FACT. FACT, headquartered at New Delhi with offices spread all across the country and overseas, has an active panel of prominent arbitration experts on its board. Besides, it has signed international co-operation agreements with several arbitration organisations around the world for facilitating international arbitration.