AmChamExplains: Arbitrajul Instituțional & Comercial, Roger Gladei, Managing Partner, Gladei & Partners
2023-09-13
Expedited arbitral proceedings
Parties to a dispute may agree to apply the rules of expedited arbitral proceedings if the dispute value does not exceed the amount provided in the additional rules; or as an exception, regardless of the dispute value, at the request of the parties involved.
The use of expedited arbitral proceedings has the following advantages:
1. Arbitral proceedings will not exceed a term of three months;
2. Disputes will be settled by a sole arbitrator;
3. Verbal discussions on the case and the evidence examination will be held in only one tribunal arbitration meeting;
4. Confidentiality of arbitral proceedings;
5. Judging the dispute according to a simplified, but comprehensively regulated procedure;
6. Disputes are settled by recognized, professional arbitrators who possess integrity;
7. Low arbitration costs;
Model Clause
"Any disputes or claims arising out of or in relation to this contract, including the breach, termination or invalidity thereof, shall be finally settled by arbitration in accordance with the Additional Rules for Expedited Arbitral Proceedings (Annex II to the Rules of Arbitration) of the Chisinau Court of International Commercial Arbitration of the Employer Association "American Chamber of Commerce in Moldova" by a sole arbitrator appointed pursuant to these Rules.”
It is recommended to supplement the arbitration clause with the following provisions:
The place of arbitration shall be Chisinau, Republic of Moldova.
The language of the arbitral proceedings shall be […].
This contact shall be governed by the laws of […] (state the country and substantive law which shall govern the contract).
Regulations about accelerated arbitration procedure are contained in art.18 and ANNEX II Rules of Arbitration.
