Arbitration Court of the Chamber of Commerce and Industry of the Republic of Moldova

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[edit] General Information

  • Official name: Chamber of Commerce and Industry of the Republic of Moldova
  • Country: Republic of Moldova
  • City: Chisinau
  • Type of organization: Independent organization
  • Date of creation: 1991 (Chamber of Commerce) – 1994 (Court of Arbitration)
  • Interests: Arbitration - Conciliation
  • Fields of expertise: Commercial Disputes

[edit] Description

[edit] Origin

The Republic of Moldova Law 393-XIV of 13. 05. 1999 "Regarding the Chamber of Commerce and Industry" confirms the status of the Chamber and defines it as "non-governmental, autonomous and independent organization, which represents common concerns of the Republic of Moldova entrepreneurs. The Chamber is a legal person under public law and as such is supported by the State".

Since 1991 the Chamber of Commerce and Industry of the Republic of Moldova has become independent.

[edit] Objectives

The major objective of the CCI RM is to create business community and environment in society as well as to represent the concerns of its members in the system of external economic relations of the Republic of Moldova and in relations of the members with governmental authorities and foreign business circles.

The principal objectives of the Chamber are:

  • To promote commerce and industry both at the domestic and external levels and support economic agents of the Republic of Moldova in their relations with public authorities of the country and specialized foreign organizations.
  • To promote the development of various kinds of business activity taking into account the interests of all economic agents, branches of national economy and specific territories of the country.
  • To participate in the elaboration of normative acts affecting the businessmen interests or aimed at obviating obstacles and restrictions concerning market economy operation which are not stipulated by the public law norms.
  • To render assistance regarding business contacts between the subjects of the enterprise activity and organization of their cooperation with the state authorities.
  • To organize professional training and improve professional skills of its members.
  • To provide businessmen with necessary information and consultations.
  • To promote the development of foreign trade and export of goods and services.
  • To establish ethical standards, which shall provide for the bargains reliability and irreproachable conduct of its members in the market and eliminate disloyal competition and partnership in business.
  • To create favorable image of the Republic of Moldova at the international scene.
  • Other goals, which do not contradict the current legislation and the present Statute.

[edit] Court of Arbitration at the Chamber of Commerce and Industry

The International Commercial Arbitration Court of the Chamber of Commerce and Industry of the Republic of Moldova was established in 1994 for the commercial arbitration administration, with the scope to settle disputes of the foreign trade.

The Arbitration Court is a permanent, non-corporate, non-governmental and independent institution in execution of its functions.

The objective of the Arbitration Court is to promote the internal and international commercial arbitration as well as conciliation procedure and other ways of Alternative Dispute Resolution within business environment of the Republic of Moldova.

[edit] The Arbitration Court Duties

Pursuant to its Regulations the Arbitration Court has the following competence:

  • The Arbitration for the internal and international commercial disputes settlement, the competence being established on the basis of agreement between merchandisers in contracts or additional acts;
  • Arbitration conventions elaborated to be introduced into a contract, or an independent agreement;
  • The Procedure Consultation is provided by the secretary of the Arbitration Court at the Court address, by telephone or by correspondence;
  • The International Cooperation with similar arbitration institutions and organizations of other countries for the purpose of establishing and developing collaboration. Participation in and organizing of international conferences, meetings, forums and seminars;
  • Study and research of the international arbitration legislation and of the law applicable to the disputes;
  • Registration of the arbitration practice, documentation in domain of the internal and international commercial arbitration.

[edit] Viewpoint: Advantages of the Arbitral Proceedings

  • The arbitration procedure is simpler and more accessible for the parties than procedure norms applied by the state judicial instances for any similar disputes settlement.
  • The arbitration procedure is quicker and less formal. The parties can establish the term for the arbitration tribunal for the dispute settlement. Regulations of the Arbitration Court establish the term of 6 months from the moment when cause was transmitted to the competent arbitration tribunal for the settlement, the term in which an arbitration decision must be announced.
  • The arbitration procedure is confidential, judicial sessions are not public; neither person can have access to the information concerning the disputes settlement activity in the Arbitration Court.
  • The special arbitrators' competence - arbitrators of the Arbitration Court are specialists of high qualification in domain of the law and international commercial relations.
  • The parties appoint the arbitrators who will settle a commercial dispute in the arbitration procedure. The Arbitration Court has its structure - 43 arbitrators, 16 of them are from countries, which the Republic of Moldova has foreign commercial relations with. The parties can appoint persons as arbitrators, who are not in the List of arbitrators of the Arbitration Court, if they are impartial and have the respective qualification.
  • Lower costs - the arbitration fees are regressive, expressed in percents for the subject of a dispute, in accordance with Norms regarding the arbitration fees and expenses. The Arbitration fees of the Arbitration Court of CCI of RM is lower than fees imposed in other permanent arbitration institutions of other countries.
  • The arbitration tribunal follows the parties' desire expressed in a contract and commercial traditions stipulated for this case.
  • The arbitration decisions are final and obligatory for the parties from the moment of their announcement and cannot be attacked concerning the subject of a dispute.
  • The arbitration decisions are recognized internationally, the Republic of Moldova with more than 100 states ratified Convention of United Nations regarding the recognition and execution of foreign arbitral awards, concluded in 1958 in New York.
  • The parties can settle a conflict and cancel the arbitration procedure.

[edit] Contact

Stefan cel Mare str., 151, MD-2012, Chisinau. Foreign Relations Department, Stefan cel Mare str., 151, MD-2012, Chisinau - Republic of Moldova

Tel: +373 22 22 15 52

Fax + 373 22 23 44 25

Email: foreign@chamber.md

Official Website

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