“Bulgaria needs to take good practices that are related to arbitration procedures in Europe,” said Deputy Minister of Labor and Social Policy, Dr. Sultanka Petrova (pictured below). She hoped that the beginning of these good meetings, which will take place between the Sofia Arbitration Court and the Paris Court, will provide a good basis for the development of these procedures in Europe. According to her, they are the preferred ones in Europe because they are faster, cheaper and more efficient.
“Despite speculation, recently around arbitration courts in Bulgaria, one can not deny the fact that it is an extremely effective way of solving private disputes in Europe.” This was said by the Deputy Chairman of the Sofia Arbitration Court at the Association “MAPA”, Assoc. Prof. Dr. Raya Ilieva.
“We all know about the speed of the judicial system in Bulgaria. And for business, the waste of time is equal to a loss of money, and that is exactly the problem of business in Bulgaria, “added Raya Ilieva (a collage below with a green jacket).
According to her, the arbitration has a number of advantages over the state administration. A basic rule to consider and resolve a dispute arises from an arbitral tribunal is to be awarded an arbitration agreement or contract.
She specified that the inclusion of the clause in the contracts on the one hand provides certainty to the parties in resolving a future legal dispute. On the other hand, it plays a role as a preliminary guarantee for the performance of the contract, and at the same time it is a type of defense mechanism against the unscrupulous party.
“The introduction of an arbitration clause in your contracts, in case of a dispute, will lead to unparalleled faster proceedings, as the arbitration proceedings are one-sided. The arbitration award may be appealed only to the SCC but in the presence of specific, lawful grounds which are procedural. The Supreme Court of Cassation does not address the merits of the dispute but only whether the notification and summoning procedure has been followed, “said Raya Ilieva.
Therefore, it is clear that arbitration as an alternative means of resolving conflicts is extremely widespread in practice and provides for a quick, effective and timely resolution of disputes.
“Arbitration, properly used, is an effective, fast and flexible way of resolving business disputes,” said Secretary General of the International Arbitration Chamber in Paris / CAIP / Irina Girif (pictured below in the middle). She added that “Bulgaria has high market potential, but not yet revealed by French companies”.
According to her, arbitration, compared to other means of dispute settlement, “has the advantage of issuing a judgment which has the force of res judicata and is subject to enforcement on the same basis as the judgment of a state court.” According to her, this is a real alternative to court proceedings, unlike mediation or reconciliation, which help to find a mutually agreed solution.
“Tackling conflicts for an enterprise is a real strategic issue that can not be left to chance. Any dispute creates an instability in the company and its trade relations. One way to protect yourself is to include arbitration clauses or change them in a direction favorable to the business interests of the company. “
For this reason, Giriff is clear that arbitration centers play an important role in securing merchants’ trade and investment.
The discussion was attended by representatives of the Arbitration Court Sofia and their partners from the International Arbitration Chamber in Paris. Among the official guests were MPs and representatives of the Ministry of Justice. Among the foreign representatives, apart from Irina Girif, were Dominique Gramse (Deputy Economic Counselor of the Embassy of France) and the Director of the Moscow Cultural Business Center Boris Gromov.Source: http://sofia.topnovini.bg/node/773294