Court of Arbitration for Resolution of Economic Disputes at the Chamber of Commerce and Industry of the Russian Federation

Advantages

The proceedings of the Court of Arbitration offer the litigants an opportunity to appoint arbitrators at their own discretion. The parties may either choose arbitrators from those stipulated in the Arbitration Court’s List, which includes some of the most competent and acknowledged civil-law experts, or appoint any other persons possessing the necessary qualifications. The two arbitrators appointed by each of the parties shall elect the third arbitrator as Chairman of the arbitral tribunal. The arbitrators are independent from the parties to a dispute. Without being representatives of the parties the arbitrators provide unbiased and qualified dispute resolution.

Disputes are resolved fast and at a low cost. The Court of Arbitration uses a summary contentious yet sufficient procedure precluding from any appeals against the substance of the Award. Therefore, any dispute shall be settled by the arbitral tribunal chosen by the parties (or by a sole arbitrator) without the need of referring the case to any court of second instance.

At the parties’ wish, the hearings may be held outside Moscow at the counterparts’ at the parties’ place of business.

The Court’s of Arbitration amount of the arbitration fee is lower than that of the legal charge paid to the courts of arbitration.

The principle of contentiousness is widely applied in the dispute resolution. The most important grounds for decision making are terms and conditions of the contract and business practice.

Finally, confidentiality is a major advantage of third-party hearings, which are held in private. The Arbitration Court’s Awards are rarely published, and the names of the parties are not given, nor other publications include any data allowing to identify the counterparts or disclosing any commercial secret.