Regulations of the International commercial Arbitration Court under Chamber of Commerce and Industry of the Republic of Moldova

Approved by the decision of Council of Chamber of Commerce and Industry of the Republic of Moldova of July 13, 2001

Chapter I. General provisions

Article 1. Status and tasks of Arbitration Court

The international commercial Arbitration Court under Chamber of Commerce and Industry of the Republic of Moldova, further - Arbitration Court, is permanent arbitral organization, non-governmental, independent, created according to the current legislation of the Republic of Moldova this by regulations and international agreements in which the Republic of Moldova is one of the parties.

The purpose of activities of Arbitration Court is providing in the Republic of Moldova internal and international commercial arbitration, and also the procedure of conciliation and other alternative ways of permission of commercial disputes.

Article 2. Powers

The main power of Arbitration Court is permission of internal and international commercial disputes if the parties signed the written arbitral agreement according to provisions of these regulations or according to other rules chosen by the parties and recognized by court.

The Arbitration Court has also following powers: supports the idea of commercial arbitration and provides information support in relation to the organization and activities of court to all interested persons, develops samples of arbitral agreements and provides their distribution in business community, interacts with other permanent arbitral organizations at the local and international level and monitors evolution of arbitration on the world scene, records arbitral practice and constitutes collections of arbitral practice, provides documentation in the field of internal and international commercial arbitration, carries out any other obligations according to these regulations and the current legislation of the Republic of Moldova.

Article 3. Arbitral agreement

The arbitral agreement is signed in writing in the form of the compromise clause included in the main agreement or in the form of the independent agreement called compromise.

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