Arbitration Court is one of the forms of violated or disputed civil rights protection by an independent arbitrator, who is enforced by parties of civil matters to render a mandatory award. This does not exclude a possibility of an amicable agreement of the parties on any stage of proceeding of the case.
Both the Russian legal entities and individual entrepreneurs and foreign companies can apply to the Arbitration for protection of rights. If considering international disputes, the Arbitration Court acts as the International Arbitration.
Submission of the dispute to the arbitration is possible in any time beginning with the date of signing the agreement by parties in case if contract contains an arbitration clause.
After the parties appointed the arbitrators and draw the tribunal of arbitration they are entitled to define at their discretion and by agreement any proceeding questions in the arbitration or agree on court proceedings as prescribed in the rules of the Arbitration.
Relating to the law and existing practice of law the following arbitration clause into the text of the contract can be proposed: “Any dispute or difference between the parties arising from or concerning this agreement shall be settled by the International Arbitration at the Leningrad Region Chamber of Commerce and Industry by one or more arbitrators in accordance with the Rules of the Arbitration.”
It is possible to plea the claim to the Arbitration when the parties have already plead to a state arbitration, not later than party filed the first meritorious petition to the court and the award of the respective court is rendered.
Advantages of the Arbitration:
- Confidentiality of the procedure, hearing of a case is in private, commercial discretion of the parties are protected, arbitrators can’t be examined as a witness about the data he or she learned during the arbitration proceedings;
- Minimal periods of adjudgment;
- Proceeding by one instance;
- Option of independent choice of arbitrators;
- High proficiency of the arbitrators;
- Descending arbitration fee scale based on inverse relation between the sum in dispute and arbitral fee rate.
Award of the Arbitration is final on the merits and cannot be subject to appeal. The award is executed voluntarily by parties of dispute. Award of the Arbitration which is not executed voluntarily is enforceable and will be executed in order of enforcement of the decisions of state courts. Reconsideration of the dispute by state court is not affected.
Before the beginning of arbitration proceedings the Arbitration as a mediator can offer the parties with regard to their agreement a conciliation procedure for finding within the law an admissible solution.
For any further information about the activities of the International Arbitration at the Leningrad Region Chamber of Commerce and Industry please contact us:
191186 Russia Saint-Petersburg Nevsky Ave. 1, phone +7(812)571-60-23,
website: http://www.lotpp.ru
E-mail: treteiskysud@lotpp.ru