AT THE INTERNATIONAL ASSOCIATION FOR JUSTICE AND ARBITRATION /IAJA/
The Sofia Arbitration Court at the International Association of Justice and Arbitration Association is an independent judicial institution. We are part of an international community that currently has 17 countries.
AT THE INTERNATIONAL ASSOCIATION FOR JUSTICE AND ARBITRATION /IAJA/
The Sofia Arbitration Court at the International Association of Justice and Arbitration Association is an independent judicial institution. We are part of an international community that currently has 17 countries.
The Sofia Arbitration Court at the International Association for Justice and Arbitration Association is an independent judiciary. We are part of an international community in which 17 countries have now applied for membership. We are proud that the initiator of this association is the Bulgarian side and was established in Sofia.
The International Justice and Arbitration Association quickly gained authority, as each member of the European Union issued a judge who was officially registered with the judges of the International Association of Justice and Arbitration.
The idea of creating such an institution comes from the example of the establishment in 1945 The International Court of Justice (abbreviated ICJ) is the principal judicial organ of the United Nations (UN) whose purpose is to resolve disputes between individual countries.
ACCESSIBLE, QUICK AND QUALITATIVE JUSTICE
Large fees in standard (state) courts are available to corporations, but in many cases, they are too high for the ordinary citizen.) Especially when the case goes on for years and when it has to go through the three courts. Arbitration is significantly cheaper, ends in clear terms (usually between 2 and 6 months) and the case is one- instance.
The Arbitration Court is fully credible, as the list of experts and an expert witness is the same as the state court.
WHAT IS THE ARBITRATION PROCESS?
Arbitrage proceedings precede state justice. This is an alternative method of resolving legal disputes. Since arbitration is much faster and more accessible, it is increasingly preferred among the dynamic areas of commercial and civil relations.
Arbitration proceedings are governed by the International Commercial Arbitration Act, adopted in 1988. The arbitration does not apply to the limits of the international jurisdiction of the state courts, and the implementation of the decisions is secured by the New York Convention.
WHEN WE CAN GO TO THE ARBITRATION COURT?
When a contract is signed between companies or civilians, a clause is provisionally stipulated that the disputed issues can be settled through arbitration. In this case, our court’s decisions become binding and enforceable.
Arbitration proceedings can be particularly useful for companies that have a contract with foreign firms. In the event of non-compliance with the terms of the contract, they may seek their rights directly at the Sofia Arbitration Court, without having to carry out any action in the respective country.
It should be borne in mind that the Arbitral Tribunal CAN NOT deal with cases involving property rights, real estate, maintenance, and employment rights.
