Maritime Arbitration Commission at the Chamber of Commerce and Industry of the Russian Federation

Advantages

There are numerous reasons why the MAC is an appealing choice:

• the parties can choose the arbitrators who will settle their dispute;
• the proceedings and materials are kept confidential;
• costs and fees are relatively lower as compared with arbitration centers in some other countries;
• the arbitral proceeding can be conducted in English language;
• finality of MAC’s awards, possibility of an abroad execution of MAC’s decisions in accordance with New York Convention 1958, ratified by 142 countries, including countries which don’t have contracts on juridical assistance with Russia;
• In order to make disputes, which may arise out of contract, to be settled in the MAC, it is advisably to insert into the text of the contract the respective clause before signing it. Such manipulations will give to the obligations of the parties juridical foreseeability, as their dispute will be settled in according with the known rules.