International commercial arbitration
With the development of market relations in Russia, the International Court of Arbitration has acquired great importance as an effective means of resolving disputes between participants in foreign economic activity. When signing the contracts, the parties usually assume that all the obligations of the parties under the contract will be fully implemented, but, unfortunately, this is not always the case. Very often, the obligations under the contract are not fulfilled or not fully fulfilled, which in turn causes some damage to one of the parties to the contract. The International Court of Arbitration is precisely the tool that allows a party that has suffered damage as a result of a non-performance of a foreign economic agreement to apply to an international commercial arbitration court, according to the arbitration clause, to protect its rights.
Commercial arbitration is an option for resolving economic disputes between entrepreneurs or organizations. Highlighted domestic and international arbitration.
Internal resolves conflicts between enterprises and individual entrepreneurs of one state. International – between organizations and individual entrepreneurs from different states.
It is necessary to highlight the main nuances of commercial arbitration. It is not part of the state court system. But his decision is binding.
The main advantage of commercial arbitration is that its decision is not subject to review. It is final.
In case of disputes with foreign panthers, it is advisable to attract a competent lawyer. The lawyers of DTK Partner specialize in conflict resolution through international commercial arbitration. Moreover, both on the territory of the Russian Federation and abroad.
International Commercial Arbitration
The centers of international arbitration are:
- International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation;
- International Court of Arbitration at the International Chamber of Commerce (ICC);
- London International Arbitration Court (LCIA);
- Arbitration Institute of the Stockholm Chamber of Commerce (SCC);
- UNCITRAL and Arbitration Courts (Ad hoc) in various jurisdictions.
The commercial arbitration process may be conducted only by agreement of the parties. A prerequisite is the presence of an arbitration clause in the contract or an official arbitration agreement.
Each process can be divided into the following steps:
- Preview. It includes the period until the case is referred to the arbitrators. The parties shall send to the secretariat objections to the validity, scope and existence of the arbitration agreement.
- The main one. Decisions are made on the submitted applications, the challenges of arbitrators are considered.
- The final stage. A decision is made on the applicants.
An experienced specialist will provide the following services:
- representing the interests of the principal at the stage of contracting with international partners or with a foreign element;
- drafting an arbitration clause and determining the applicable law;
- providing legal assistance to clients on legal issues of various countries;
- representation of interests in the international commercial arbitration court;
- recognition and enforcement of decisions of international commercial arbitration in the territory of any country.
This list is not final. Other services may be required depending on the situation.
Benefits of DTK Partners
International arbitration is one of the core areas of activity of our legal agency.
Our lawyers are involved not only at the trial stage. An important point that a qualified lawyer cannot miss is the formation of the arbitral tribunal.
But getting a positive decision is only part of the story. DTK Partners also provides support when necessary to enforce a court decision both within the Russian Federation and outside the country.
The cost of company services is set for each principal individually. It depends on the amount of work that needs to be done to achieve the desired result.