Why the ICAC at the CCI of the Russian Federation should be selected as an arbitrator in the arbitration clause of a foreign trade contract.
The right of the parties of a civil dispute to choose alternative way of dispute resolution, including the transfer of the dispute to arbitration-ICAC at the CCI of the Russian Federation, is an inalienable right to protect their freedoms and rights in all ways not prohibited by law.
The important thing of a dispute in the ICAC is the autonomy of the will of the parties, confidentiality of the procedure, impartiality and independence of arbitrators, inadmissibility of review of the decision on the merits by the courts of the Russian Federation, compliance with the public order of the Russian Federation.
Russia has signed and ratified the main international law of arbitration, in particular, the UN Convention on the recognition and enforcement of foreign arbitral awards of 1958 and the European Convention on foreign trade arbitration of 21 April 1961 (hereinafter-the Convention on foreign trade arbitration).
When entering into foreign trade transactions, Russian companies usually choose the ICAC at the RF CCI as an arbitration court to resolve possible future disputes and disagreements of the parties to the contract.
This choice is justified, since the arbitration process in the ICAC at the CCI of the Russian Federation has many advantages compared to arbitration courts in the Russian Federation.
First of all, the ICAC under the CCI of the Russian Federation is an internationally recognized international arbitration court, the failure of which voluntarily decisions to complete discredit of the losing party.
Therefore, the losing defendant, who was ordered by the ICAC arbitrators to pay money, compensation or make a delivery of goods, hurries to voluntarily comply with the court's order. Otherwise, an unscrupulous company will quickly lose reputation and lose the trust of its other customers or suppliers.
When applying to the ICAC, the parties know that it is impossible to appeal the court's decision, as well as to delay the process by appealing to higher authorities. Therefore, the parties to the dispute are forced to follow the clear instructions of the ICAC rules and solve their issues and tasks in the negotiations and discussion of settlement agreements.
An important advantage of ICAC is the ability of each party to choose its arbitrator from among the ICAC arbitrators. The third arbitrator is appointed by ICAC. At the same time, all arbitrators are recognized experts in their field, possessing deep legal knowledge and a developed sense of duty and justice.
That is why ICAC decisions are somehow made even by the losing side because of their validity, legality and fairness. The decision of the arbitrators affects the desire of the loser to voluntarily execute the decision of the arbitration court.
Very often the very appeal to the ICAC resulted in the voluntary execution of the plaintiff's claims by the defendant, especially if the claim was well motivated and provided with appropriate evidence.
A civil dispute may be referred to the ICAC at the CCI of the Russian Federation, if there is a valid arbitration agreement between the parties.
When concluding an international contract, it is important to correctly indicate the name of the ICAC at the CCI of the Russian Federation in the arbitration clause, since an error in the spelling of the name can lead to the refusal of the ICAC to accept the statement of claim for its jurisdiction.
Also, when conducting a case in the ICAC, it is important to find a knowledgeable lawyer who has already had experience in conducting cases in this arbitration court. The ICAC rules and the arbitration process in arbitration courts are very different, especially in the assessment and collection of evidence.
The size of the arbitration fee for the consideration of Your case in the ICAC depends on the amount of the claim. Sometimes it is much higher than the state duty in the Russian arbitration court. However, the high cost of the arbitration fee is fully compensated when the case is considered on the merits, since the losing party, by the decision of the arbitrators, fully pays the arbitration costs of the winner.
If the losing party does not execute the ICAC decision on a voluntary basis, there is a procedure for recognition and enforcement of the award in national courts and arbitration courts at the location of the debtor (defendant).
In any case, the ICAC decision is a document confirming the legal relations of the parties, the circumstances of the case and the obligation of one party to the other to execute the order of the arbitral award.
It is better to resolve all issues and disagreements through negotiations with a partner, but in case of an insoluble dispute, it is better to contact the ICAC at the CCI of the Russian Federation.
Lawyer Maria Yarmush performs the following actions in connection with the resolution of disputes in arbitration courts, including the ICAC at the CCI of the Russian Federation:
- challenging the ICAC decision at the CCI of the Russian Federation of a preliminary nature on the availability of its competence;
- challenging awards of the ICAC at the RF CCI;
- obtaining a writ of execution for enforcement of the ICAC decision at the RF CCI;
- recognition, enforcement of foreign arbitral awards.