Tag Archive | "institutionalized arbitration"

Arbitration as Mean of Solving Litigations between Professional Traders – Novelties Inserted in the New Civil Procedure Code

Based on the “New York” Convention of 1958 [1] arbitration has become a true and efficient alternative of the common law jurisdiction.
The regulation of arbitration in the new Civil Procedure Code [2] is found in the same Book (Book 4), divided into 7 Titles, instead of 11 Chapters. As a concept, the regulation of different specific arbitration institutions is similar to that provided for by the actual Book 4. The 7 Titles includes the general provisions on arbitration, arbitration agreements, arbitration tribunal, arbitral procedures and institutionalized arbitration (Art 533-612). Regarding arbitration procedure, it regulates the notification of the arbitration tribunal, arbitration trial, arbitration expenses and the decision of arbitration. Institutionalized arbitration is, for the first time settled by Art 607-612 of the Civil Procedure Code. Also, Title 4 of Book 7, named “International civil trial”, settles the international arbitration (Art 1096-1118).

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Posted in Economics, Issue no. 7