Belarus - Raiffeisen Bank International AG
Belarus - Raiffeisen Bank International AG Belarus - Raiffeisen Bank International AG
5. Arbitration 18 Unlike the rulings of state courts, most arbitral awards can be enforced worldwide. For a dispute to be settled by a court of arbitration, its jurisdiction must previously be agreed in writing. It is therefore advisable to include an arbitration clause in your contract with a Belarusian counterparty. The Austrian Federal Economic Chamber offers institutional arbitration as a service through the International Arbitral Centre of the Austrian Federal Economic Chamber. The arbitration clause of the International Arbitral Centre of the Austrian Federal Economic Chamber reads as follows. (It is available in the languages of most importance to Austrian exporters.) ‘All disputes arising out of this contract or related to its violation, termination or nullity shall be finally settled under the Rules of Arbitration and Conciliation of the International Arbitral Centre of the Austrian Federal Economic Chamber in Vienna (Vienna Rules) by one or more arbitrators appointed in accordance with these Rules.’ Useful agreements to supplement this arbitration clause: • the number of arbitrators shall be .......................... (one or three); • the applicable law shall be ............................; • the language used during arbitration proceedings shall be ...................................... Detailed information: Internationales Schiedsgericht der Wirtschaftskammer Österreich International Arbitral Centre of the Austrian Federal Economic Chamber Manfred Heider; Phone: +43-5-90 900-4397; Fax: +43-5-90 900-216. e-mail: arb@wko.at; Internet: http://wko.at/arbitration The fact that you, as an Austrian company, are a member of the Economic Chamber, may under some circumstances bother a strong foreign counterparty. If this is the case, we recommend conferring jurisdiction on another court of arbitration such as that of the International Chamber of Commerce (ICC). It is based in Paris. Its representative in Austria is ICC Austria. The following possibilities result: • If your company’s starting position for contract negotiations is strong or if your starting position and that of your counterparty are roughly even, we recommend using the arbitration clause of the Austrian Federal Economic Chamber to settle disputes. • If, in contrast, your company’s position is weaker or a counterparty as strong as you does not agree to the arbitration clause of the Austrian Federal Economic Chamber, we recommend conferring jurisdiction on another arbitration court such as that of the International Chamber of Commerce.
The arbitration clause of the International Chamber of Commerce (ICC) reads as follows: ‘All disputes arising out of or in connection with the present contract shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with the said Rules.’ This arbitration clause is also available in other languages. Detailed information: ICC Austria, International Chamber of Commerce Maximilian Burger-Scheidlin; Phone: +43-5-90 900-3701; Fax: +43-5-90 900-3703; e-mail: icc@wko.at; Internet: http://www.icc-austria.org. Belarus has the International Arbitration Court of the Belarusian Chamber of Commerce and Industry Jan Iosifovich Funk; Phone: +375-17-288 2076; Fax: +375-17-288 2067; http://www.cci.by/ArbitrCourt/AboutCourt_en.aspx. The texts of arbitration clauses for contractually conferring jurisdiction on an arbitration court in Belarus are available from the Austrian Foreign Trade Office. One must bear in mind that decisions of foreign arbitration courts cannot be directly enforced in Belarus. Instead, confirmation must be obtained within the scope of enforcement proceedings before the Belarusian commercial court that is competent for the registered office of the defendant. When hearing the case, the Belarusian commercial court must establish the extent to which grounds exist to confirm or reject a foreign arbitral award under Article 248 of the Commercial Procedure Code. However, the Belarusian court is not permitted to decide on the matter itself. Similarly, decisions of a Belarusian arbitration court cannot be directly enforced either. To be enforced, they must be confirmed by a Belarusian commercial court. To ensure a level playing field in cross-border commercial litigation, most contracts confer jurisdiction on arbitration courts within the arbitral systems of the chambers of commerce (Austrian Federal Economic Chamber, International Chamber of Commerce, ICC Belarus). However, in certain cases and depending on the business transaction in question and contractual positions, it may be advantageous to confer jurisdiction on a Belarusian commercial court. 19
- Page 1 and 2: Financial Market Report Belarus In
- Page 3 and 4: The Belarusian Financial Market Imp
- Page 5 and 6: The continuation of expansive polic
- Page 7 and 8: The general view is that representa
- Page 9 and 10: Forming a limited liability company
- Page 11 and 12: 3. Taxation and Legislation VAT The
- Page 13 and 14: Profit tax in a number of areas of
- Page 15 and 16: Special tax regimes Unified tax on
- Page 17: 4. Privatization Roughly 75 per cen
- Page 21 and 22: Who can apply? All natural persons
- Page 23 and 24: 7. Risk Mitigation and Finance Guar
- Page 25 and 26: Investment of €100 Austrian Compa
- Page 27 and 28: 8. Payment and Account Services at
- Page 29 and 30: 9.3. Clearing Mechanisms Settlement
- Page 31 and 32: 10. Your International Business Spe
- Page 33 and 34: Notes 33
- Page 35 and 36: Notes 35
The arbitration clause of the <strong>International</strong> Chamber of Commerce (ICC) reads as follows:<br />
‘All disputes arising out of or in connection with the present contract shall be finally settled under the Rules<br />
of Arbitration of the <strong>International</strong> Chamber of Commerce by one or more arbitrators appointed in accordance<br />
with the said Rules.’<br />
This arbitration clause is also available in other languages.<br />
Detailed information:<br />
ICC Austria, <strong>International</strong> Chamber of Commerce<br />
Maximilian Burger-Scheidlin; Phone: +43-5-90 900-3701; Fax: +43-5-90 900-3703;<br />
e-mail: icc@wko.at; Internet: http://www.icc-austria.org.<br />
<strong>Belarus</strong> has the<br />
<strong>International</strong> Arbitration Court of the <strong>Belarus</strong>ian Chamber of Commerce and Industry<br />
Jan Iosifovich Funk; Phone: +375-17-288 2076; Fax: +375-17-288 2067;<br />
http://www.cci.by/ArbitrCourt/AboutCourt_en.aspx.<br />
The texts of arbitration clauses for contractually conferring jurisdiction on an arbitration court in <strong>Belarus</strong> are<br />
available from the Austrian Foreign Trade Office.<br />
One must bear in mind that decisions of foreign arbitration courts cannot be directly enforced in <strong>Belarus</strong>.<br />
Instead, confirmation must be obtained within the scope of enforcement proceedings before the <strong>Belarus</strong>ian<br />
commercial court that is competent for the registered office of the defendant. When hearing the case, the<br />
<strong>Belarus</strong>ian commercial court must establish the extent to which grounds exist to confirm or reject a foreign<br />
arbitral award under Article 248 of the Commercial Procedure Code. However, the <strong>Belarus</strong>ian court is not<br />
permitted to decide on the matter itself. Similarly, decisions of a <strong>Belarus</strong>ian arbitration court cannot be<br />
directly enforced either. To be enforced, they must be confirmed by a <strong>Belarus</strong>ian commercial court.<br />
To ensure a level playing field in cross-border commercial litigation, most contracts confer jurisdiction on<br />
arbitration courts within the arbitral systems of the chambers of commerce (Austrian Federal Economic<br />
Chamber, <strong>International</strong> Chamber of Commerce, ICC <strong>Belarus</strong>). However, in certain cases and depending on<br />
the business transaction in question and contractual positions, it may be advantageous to confer jurisdiction<br />
on a <strong>Belarus</strong>ian commercial court.<br />
19
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