Arbitration Court under Moldova's Chamber of Commerce and Industry considers 128 litigations in 2020

Chisinau, 1 February /MOLDPRES/ - The Arbitration Court under the Chamber of Commerce and Industry of Moldova (CCI) considered 128 files in 2020, a CCI press release reads.

According to the quoted source, the commercial arbitration was given the task to settle litigations covering a wide range of sectors of the economy, including the trade, transport, nourishment, rental, constructions and engineering services, etc. At the same time, the delivery of goods triggered, just in the years before, the largest number of arbitration cases, accounting for 66 per cent of the overall number of litigations.

In line with the competences, the Arbitration Court can consider both national and international litigations with the participation of entrepreneurs from abroad. ‘’During 2020, ten international litigations were settled, which involved sides from such countries as Romania, Bulgaria, Poland, Ukraine, Russia, Latvia, Cote D'Ivoire, USA,” CCI said.

Forty five per cent of all litigations considered finished with the approval of a conciliation transaction, welcomed by CCI, which puts priority on the litigation’s settlement based on the sides’ agreement. ‘’The Arbitration Court facilitates such agreements between sides in conflict and backs the amiable settlement of litigations. The conciliation transaction’s signing ensures for the sides the quick settlement of the litigation, cutting expenses and shortening the time, as well as the reestablishment of a part of the partnership relations,’’ according to CCI.

The Arbitration Court under the Chamber of Commerce and Industry organizes and manages the settlement through arbitration of commercial and civil domestic and international commercial litigations in the conditions provided for in the Law on arbitration, Law on the international commercial arbitration, Moldova’s Civil Procedure Code and the international conventions on the matter, Moldova is party to, if the litigation’s sides signed an arbitration convention to this end.

photo: chamber.md