Representation of interests in the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation
According to the part 3 of the art. 1 of Federal Law N 5338 dated July 07, 1993 “On International Commercial Arbitration” by international agreement the parties may refer disputes arising from civil law relations to foreign commercial and other types of international economic relations, if a commercial enterprise at least one party is abroad, or if any place where a significant part of the obligations arising from the relations of the parties is to be performed, or the place with which the most closely related the subject matter of the dispute, is abroad, as well as disputes arising in connection with the implementation of foreign investment in the Russian Federation or Russian investment abroad.
Thus, if the parties fail to reach an agreement on the settlement of a dispute in an arbitration court in the Russian Federation or a foreign court, it is possible that an arbitration agreement on the resolution of disputes in the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation (ICAC at the RF CCI) in accordance with its applicable rules and regulations. In this case, the parties to the transaction are encouraged to use arbitration clauses listed on the ICAC at the RF CCI official website in order to avoid subsequent disputes when considering disputes and executing awards.
The dispute resolution procedure in ICAC at the RF CCI is governed by the Rules of Arbitration for International Commercial Disputes, approved by Order N 6 of the Chamber of Commerce and Industry of the Russian Federation on January 11, 2017.
As a general rule, the court is composed of three arbitrators if, taking into account the cumulative amount of all claims filed within the prescribed time limit (usually not exceeding the equivalent of $ 50,000 without taking into account interest claims and reimbursement of arbitration expenses) and other circumstances, the Nomination Committee does not decide at its discretion that the case is subject to resolution by the sole arbitrator.
The consideration of the case, the application procedure in ICAC at the RF CCI has its own distinctive features. Here are some of them:
•The court resolves the dispute in accordance with such rules of law as are chosen by the parties as applicable to the merits.
•When filing a claim, the claimant must pay various fees, for example, registration fee. Until payment of the registration fee, the claim is not considered filed.
•An oral hearing is held to present the positions on the basis of the evidence submitted by the parties and to hold an oral debate.
•The total duration of the proceedings is 180 days, and the award is binding from the date on which it is made.
Other features regulated by the Rules of Arbitration of International Commercial Disputes.
BRACE Law Firm provides legal support for the settlement of disputes in ICAC at the RF CCI, which includes:
- Maintenance of proper paperwork in order to comply with the claims settlement procedure of the dispute (if necessary).
- Preparation and preparation of a full package of documents required for contacting ICAC at the RF CCI, as well as preparation of documents (petitions, applications, etc.), the need for preparation of which arises in the process of dispute resolution.
- Representation of interests in the consideration of a dispute with the formation of an evidence base that facilitates an award in the interests of the person who applied for legal support.
- Drafting and legal expertise of foreign trade contracts
- Legal support under the law of the Eurasian Economic Union
- Legal expertise of compliance of transactions and trading operations with international requirements and restrictions
- Conducting disputes related to foreign economic activity
- Recognition and enforcement of awards of international commercial arbitration courts and awards of foreign state courts
- Due diligence of an investment project with the participation of foreign investments (foreign entities)
- Preparation and legal expertise of documents for the implementation of the investment project