The Bucharest Court of Arbitration and the Entrepreneur Club Magazine, with the support of the Chamber of Commerce and Industry of Bucharest Municipality (ICAC), organized on Thursday, May 25th, 2023 in the Carol I Auditorium of the ICAC Palace the conference “Commercial Arbitration – an efficient solution for the business environment”.
The main objective of the event, moderated by Av. Cosmin Marina, vice-president of the Bucharest Chamber, and av. Carmen Todică, vice-president of the Bucharest Court of Arbitration, aimed at highlighting the certain advantages that businessmen have if they resort to arbitration for dispute resolution.
“We work with professionals with experience and high professional reputation, both in the legal environment and in the academic environment, in the country and abroad, who will solve your case much faster than in court and under conditions of maximum confidentiality. This approach is in line with our strategy to provide the business community with useful tools to streamline and secure their business. Moreover, it is a proof of ICAC’s willingness to constructively participate in the structural reform of the economic environment and to assume new responsibilities”, said Iuliu Stocklosa, president of the Bucharest Chamber, at the opening of the conference.
The event was attended by: advisers and legal directors; economists and cfos, in-house lawyers; managers and entrepreneurs, representatives of the financial and banking system, but also of non-governmental organizations interested in resorting to arbitration, as an alternative to the settlement of disputes in court.
For three hours, the participants had the opportunity to obtain from the management of the Bucharest Court of Arbitration, but also from the reputed arbitrators useful information regarding: the advantages of resolving disputes at the Bucharest Court of Arbitration, the importance of including in commercial contracts between companies or between companies and state institutions the arbitration clause; procedural aspects regarding the constitution of the arbitral tribunal; procedural time limits; particularities in the administration of arbitration evidence; the costs of the arbitration as compared to those of the ordinary court; the action for annulment of the arbitral award.
A very well received presentation by the public had Septimiu Stoica, president of the AGA, Romanian Commodity Exchange, himself a reputed referee. “The major advantage of arbitration is the quality of those who judge. We have the certainty of the professionalism and competence of the arbitrators, which significantly diminishes the risk of an unfair sentence. The referees know the field and have the necessary time and appetence to understand the cause,” septimiu Stoica stressed.
The presentation of the president of the AGA of BRM was followed by the following interventions: av. Carmen Todică, vice-president of the Bucharest Court of Arbitration, av. Iuliana Iacob, av. Ion Ilie Iordăchescu and av. Florică Ciutacu. Also, on this occasion, the participants in the event had the opportunity to see how a commercial arbitration is conducted and to clarify their theoretical and practical aspects regarding this alternative way of resolving disputes.
Video source: Club Antreprenor,
Photo: Av. Dr. Florica Ciutacu
By
Robert Williams