International commercial arbitration

International commercial arbitration (ICA) is an alternative to state courts for resolving disputes in foreign economic activity. Experienced parties usually provide for referring possible disputes to international commercial arbitration when concluding transactions in international trade. International commercial arbitrations can be either permanent or created to resolve a specific dispute.

Dispute resolution in international commercial arbitration has many advantages over litigation in state courts. There are many international commercial arbitrations in the world, according to the rules of which the parties to international contracts in the field of trade in various types of products, construction, etc. can entrust the solution of their disputes. Almost all of them have a high level of trust, and their arbitrators have a high level of professionalism.

The International Commercial Arbitration Court and the Maritime Arbitration Commission also operate under the Ukrainian Chamber of Commerce and Industry. Their activities are regulated by the relevant Law of Ukraine and the Regulations approved by this Law.

The success of submitting a case to international commercial arbitration begins to take shape already at the stage of preparing and concluding a contract with a foreign partner. For this purpose, the contract should include an arbitration agreement - special conditions certifying the true intentions of the parties to choose an international commercial arbitration body, the procedure by which the dispute will be considered, the venue of the dispute, the number of arbitrators, and the like.

In the event of significant deficiencies, the arbitration agreement may be declared invalid or unenforceable. In that case, unless the parties make a new agreement to refer the dispute to international commercial arbitration, the dispute will have to be referred to state courts in accordance with the rules for choosing territorial jurisdiction under private international law.

International commercial arbitration is an arbitral tribunal, however, it has a special status, because it considers disputes from contractual and other civil law relations arising in the process of foreign trade and other types of international economic relations.

Professional legal assistance of a lawyer in international commercial arbitration requires knowledge of international law, the practice of its application, as well as the application of the law of other countries in resolving a dispute, to which the terms of the contract may be subject.

The international commercial arbitration attorneys of our firm have the necessary successful experience in legal assistance in cases with a foreign element. In case of disagreement with the decision of international commercial arbitration, the dissenting party may also appeal against it in the court of the relevant state in whose territory the arbitral institution is located.

The decisions of the International Commercial Arbitration Court and the Maritime Arbitration Commission at the Ukrainian Chamber of Commerce and Industry may be challenged by filing an appropriate application with the Court of Appeal of General Jurisdiction at their location.

Since international commercial arbitration is not a state institution, the enforcement of its decisions is possible after the procedure for recognizing such a decision by the state court of the country where the enforcement is to be carried out, which also requires an attorney's professional legal assistance.

Compulsory enforcement of ICAC decisions at the Ukrainian Chamber of Commerce and Industry in Ukraine also requires their recognition by a Ukrainian court of general jurisdiction, followed by the issue of a writ of execution.