DREAM / The Prime Minister resigns and wakes up under the Parisian bridge!

 Kliko këtu për të tjera
Voxpress:

The solution of commercial conflicts / Albania sets up an arbitration court, how will it work

2023-04-20 16:57:04Fokus SHKRUAR NGA REDAKSIA VOX
The solution of commercial conflicts / Albania sets up an arbitration court, how
Prime

The government has approved the draft law that establishes arbitration courts in our country, giving businesses the opportunity to choose in cases where they have a dispute.

The draft law establishes as a basic condition that arbitration is raised only in cases where two businesses have previously signed an agreement that defines it as a possible solution for disputes, thus avoiding domestic administrative courts, or even international arbitrations.

The draft stipulates that Albanian arbitration will operate recognizing both international private law and Albanian legislation in force, according to the choice made by the companies.

The arbitration institution is established and registered as a legal entity, according to Albanian legislation. He starts exercising the activity after registration in the Register of Arbitration Institutions that will be established at the Ministry of Justice.

Only after registration can an arbitration institution begin to adjudicate commercial disputes between the parties and its decisions are binding for implementation and cannot be appealed to traditional courts except in cases where a procedural violation is observed.

Albanian Arbitration Courts, according to the provisions of the law, may consist of one or more members, as long as the number of members is odd. For example, most international arbitrations today operate with 3 arbitrators. Two are chosen by the parties involved in the conflict, while the third is chosen by the two members in question.

© Copyright Vox News

This article is exclusive to Vox News, it is copyrighted according to Law No. 35/2016, "On copyright and related rights". The article can be republished by other media only by citing Vox News and placing the source link at the end, otherwise any violator will be held responsible according to Article 178 of Law No. 35/2016.


Në përputhje me standarded JTI

Video

SHIKO KANALIN NE YOUTUBE
×