Enlarged number of multinational companies and international operations has inevitably led to an increase in commercial disputes crossing the national boundaries.
In accordance with international law norms the “arbitration” means a consideration of disputes by arbitrators appointed for each case (arbitration ad hoc) or by permanent arbitral bodies, e.g. in Ukraine such a body is the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry. State economic (formerly arbitration) courts were called “arbitration” although under international law they were not such and are not. It's just the state judicial authorities with the power to consider the disputes between economic entities of a certain category.
The consideration of the international commercial disputes in the commercial arbitration courts (arbitration courts) has several advantages over the consideration of these disputes in state courts of arbitration. The commercial arbitration award is binding on the parties and the international treaties ensure their enforcement in many countries that do not work with the awards of the state courts, which enforcement is impossible in the majority of states. In commercial arbitration the cases are heard in private, neutral composition with minimal formalities. In addition, they are usually settled more quickly and less expensively than in the state courts of arbitration, hereupon the publicity of the case, as well as the fact of appeal to arbitration, shall be permitted only with the consent of the parties.
Our attorneys, considering the international practice, successfully carry out the arbitration proceedings in Ukraine and abroad, representing and advising clients in commercial and investment disputes, disputes relating to the activities of joint ventures, licensing, insurance and other disputes.
Preparation for the settlement of disputes begins long before the business relationships are formed and the dispute has arisen. We help to make the most appropriate arbitration clause in a commercial contract on dispute settlement, have not arisen yet, but may arise in connection with the proposed customer's activity on the contract with its counterparty. In this case, our customers are already prepared for these disputes, they know how and where the controversial situation will be settled, what language will be used, and substantive law of what state will be applied in settlement of the dispute and what formalities must be complied with.
Drafting of an arbitration clause for international commercial contracts is an important component of the legal services provided by us in the field of the international arbitration. We give advice in the form of an arbitration clause, which would be the best way to satisfy the requirements of the specific business transaction, prepare the necessary documents. Choice of arbitrators is a crucial part of any arbitration. We will help you identify and select the arbitrators the most suitable for a particular case.
Our specialists represent our clients both in Ukraine and abroad, on matters of direct relevance to the international arbitration, for example, such as enforcement of arbitral awards, pre-ensuring of claim requirements, confirmation or setting aside the awards. In foreign countries for the successful settlement of the case we can bring to the work the local attorneys specializing in the field of the procedural law.
We are proud of the fact that we significantly contribute to the development and further spread of methods of alternative dispute settlement both in Ukraine and at the international level. Our lawyers will multiply their years of experience in the international arbitration with the successful arbitral awards.
RECOMMENDED BY THE ICAC AT THE UCCI
FOR INCLUSION INTO FOREIGN ECONOMIC CONTRACTS
The parties on foreign economic contract, who want any disputes to be referred to the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry, are recommended to include into a contract the following arbitration clause:
“Any dispute, controversy or claim arising out of or relating to this contract, or the execution, breach, termination or invalidity thereof, shall be settled by the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry in accordance with its Rules”.
The parties may also specify the substantive law, which will regulate their agreement, the number of arbitrators (one or three), place and language of the arbitration.
The following provisions can be used:
This contract shall be regulated by the substantive law of _______________________________________
The number of arbitrators shall be __________________________________________________________
/ one or three /
The place of arbitration shall be_____________________________________________________________
The language(s) to be used in the arbitral proceedings shall be____________________________________
/Ukrainian, Russian or other/