PERMANENT COURT - ARBITRATION
Within Macedonian Chambers of Commerce, as an institution whose primary role is to represent and protect the interests of member companies, there is a permanent Court -Arbitration. institution established in accordance with the Arbitration Act, the Law on Chambers of Commerce and the Articles of Association of Chambers of Commerce.
Permanent Court - Arbitration, established by business associations ie chambers such institution exists in almost all countries with developed market economy. The most significant trade disputes are resolved in the world just before the Permanent courts - Arbitration.
Arbitration within the Macedonian Chambers of Commerce is responsible for resolving disputes for which the law prescribes not exclusive jurisdiction of the courts of the Republic of Macedonia.
Market economy and modern trends of business in Macedonia show the need for faster and more efficient resolution of disputes. Disputes arising from the business relationship between the domestic enterprises in the quickest and most efficient can be resolved before the Permanent Court - Arbitration.
The main features of the Court
Permanent Court - Arbitration is:
• permanent arbitral institution within the Macedonian Chambers of Commerce
• independent association in which it is established
• independent in their work and decision-making
• Responsible for resolving disputes in business and other property and legal matters
Advantages of arbitration to resolve disputes:
• Experience, professionalism and expertise of arbitrators
Arbitrators who participate in resolving disputes are competent and possess specific expertise and knowledge in the field of law, known and recognized experts in their fields and their independence and impartiality in the procedure are obliged to provide a written statement to decide conscientiously, impartially, legal and right;
• Speed and efficiency in resolving disputes
The dispute reshavabrzo and effective, given the growing autonomy of the parties. Speed is one of the biggest advantages of arbitration. Disputes are usually resolved within 3-9 months.
• Faster and simpler procedures
Avoid all unnecessary formalities, thus providing faster and more efficient implementation of the procedure and odluchuvanjeto.Rokovite that determines Court of Arbitration for submitting submissions should not be longer than 30 days.
• Protection and confidentiality of all information obtained during the procedure
Arbitration has no obligation to provide information to the public on the procedures.
The principle of closure to the public of the procedure allows the parties full discretion and preserve the reputation of the delicate business relations, as well as easier to amicably resolve sporovite.Arbitrazhnite hearings are closed to the public. All documentation relating to the arbitration procedure is confidential, and the verdict may be published in accordance with the parties.
• Degrees of decision
In arbitration proceedings the dispute decided in a degree.
• Arbitration is final, without appeal
Arbitration judgment substitute for the judgment of the regular court, is final and obliges the parties to the dispute. The arbitration decision is final and binding judgment izvrshna.Strankite is to perform without delay, but if not met voluntarily, it can be done by way of compulsory enforcement.
• Costs are significantly smaller
The costs of the proceedings before the arbitration are much lower than those parties would have if the dispute is decided in court.