Arbitral Awards Recognition and Enforcement
Safe International Trade
Set up and support legal entities
a Ukraine - based Law and Consulting Firm that has been delivering solutions to clients since 2015. We offer consulting and representation services that are completely customizable for your business. Whatever your needs may be, we can make it happen. Get in touch with us any time.
At latunia we understand that protect own business is not always easy. Since 2015, we’ve been helping companies of all sizes to protect their business interest to stay confident. Our years of experience have taught us to always make your business success our priority.
WHAT IS International Arbitration?
According to international law, "arbitration" means the consideration of disputes by arbitrators appointed in each case (ad hoc arbitration) or permanent arbitral bodies, for example, in Ukraine such a body is the International Commercial Arbitration Court at the Chamber of Commerce and Industry of Ukraine. State commercial (formerly arbitral) courts, although called "arbitration", under international law were not and are not (as, for example, in). These are simply stated judicial bodies with the right to consider disputes between economic entities of a certain category.
The consideration of international commercial disputes in commercial arbitration courts (arbitration courts) has a number of advantages over the consideration of these disputes in state arbitration courts. The parties independently agree in advance on the consideration of possible disputes under the contract and directly participate in the formation of the Arbitration Court to consider the case. Commercial arbitration awards are binding on the parties, and international treaties enforce them in many countries, which is not the case with state court rulings, which in most states are impossible or difficult to enforce. In commercial arbitration, cases are heard in a private, neutral composition with the least formalities, which is the most effective means of protecting the interests of investors in Ukraine. In addition, they are usually resolved much faster and at a lower cost than in-state arbitration (commercial) courts, with public disclosure of the case, as well as the fact of recourse to arbitration, are allowed only with the consent of the parties.
Taking into account international practice, we successfully support arbitration processes in Ukraine and abroad, representing interests and advising clients in commercial and investment disputes, disputes related to the activities of economic entities, licensing, insurance, transportation, and other disputes.
Preparation for dispute resolution begins long before a business relationship is formed and a dispute arises. We help to make the most correct arbitration clause in the commercial contract on settlement of disputes which have not arisen yet but can arise in connection with the economic activity of the client under the given contract with its counterparty. In this case, our clients are already prepared for these disputes, they know how and where the dispute will be resolved, what language will be used, the substantive law of which state will be used in resolving the dispute, and what formalities must be followed. Currently, latunia, which is also a partner of the AMGC marketing partner group, has launched the Safe Trade business program, which will help the firm's customers avoid significant costs and losses in international trade in goods and services, and save money on counterparties. You can get acquainted in more detail about the specified program on our website.
Drawing up an arbitration clause for international commercial contracts is an important component of the legal services and legal assistance we provide in the field of international arbitration. We give advice on the form of the arbitration clause, which would best meet the requirements of a particular commercial transaction, prepare the necessary documents. The choice of arbitrators is a crucial part of any arbitration. We will help identify and appoint arbitrators who are most competent to hear a particular case.
Representation of interests in the ICAC - we will help prepare documents (file a claim in the ICAC, other procedural documents) and timely apply to the International Commercial Arbitration Court (ICAC) at the Chamber of Commerce and Industry of Ukraine, as well as other European arbitration institutions to protect your rights, financial and property interests, by obtaining a reasoned arbitration award to recover debts under the contract from an unscrupulous counterparty - a non-resident or resident of Ukraine, we will help national companies avoid sanctions from government agencies and return their money.
Recognition and enforcement of arbitration award - Latunia Law Firm has significant experience in the recognition and enforcement of ICAC arbitration awards at the CCI of Ukraine and others, constantly improves legal and business tools to solve the problems of its clients, including in China, Poland, Cyprus, and others. The victories of Ukrainian lawyers in recognizing and enforcing ICAC decisions at the CCI of Ukraine enhance Ukraine's image in the international legal field and in the field of protection of business interests of Ukrainian companies abroad.
Therefore, we represent the interests of our clients both in Ukraine and abroad in cases that are directly related to international arbitration, such as the enforcement of arbitral awards, preliminary securing of claims, recognition or revocation of the arbitral award. In foreign countries, in order to successfully resolve the case, we cooperate with lawyers who specialize in national procedural law.
We are proud of the fact that we make a significant contribution to the development and further dissemination of alternative dispute resolution methods both in Ukraine and internationally. We strive to enhance our many years of experience in the field of International Arbitration by obtaining successful arbitration awards that are recognized and enforced outside of Ukraine.
ARBITRATION CLAUSE, RECOMMENDED BY THE ICAC AT THE UCCI FOR INCLUSION INTO FOREIGN ECONOMIC CONTRACTS
The parties on foreign economic contract, who want any disputes to be referred to the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry, are recommended to include into a contract the following arbitration clause:
“Any dispute, controversy or claim arising out of or relating to this contract, or the execution, breach, termination or invalidity thereof, shall be settled by the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry in accordance with its Rules”.
The parties may also specify the substantive law, which will regulate their agreement, the number of arbitrators (one or three), place and language of the arbitration.
The following provisions can be used:
This contract will be regulated by the substantive law of __________________________
The number of arbitrators will be _____________________________
/ one or three /
The place of arbitration will be___________________________
The language(s) to be used in the arbitral proceedings will be___________________________
/Ukrainian, Russian or other/
We approached this project carefully, as it was our very first undertaking of this scale. We studied our client’s business and personal needs to create a focused and effective solution - and then watched it grow. The sense of the project is to protect the interests of the clients worldwide. We loved working with new projects, and look forward to collaborating together on many more successful projects in the future.