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 set up in 1932. It is an independent permanently functioning arbitral institution. The ICAC does not constitute a part of the judicial system of the state. ICAC operates in accordance with the Russian Federation Law of 1993 on International Commercial Arbitration, the Statute of the ICAC annexed to the Law, and the ICAC Rules.

In accordance with the 1993 Law ICAC may resolve two types of disputes: those arising in the course of foreign trade, provided the place of business of one of the parties is situated abroad, and disputes arising in connection with activity of enterprises with foreign investments, international organizations and associations based in the Russian Federation. ICAC also resolves disputes which are subject to its jurisdiction by virtue of international treaties and agreements of the Russian Federation, including those signed by the USSR.

The Chamber of Commerce and Industry of the Russian Federation every five years approves a list of arbitrators which includes more than 100 specialists, some of them foreign citizens.