The international conference “Arbitration in the Republic of Moldova: accomplishments and prospects”, which will take place in Chisinau on May 16, aims to make use of the 20-year experience in the field of arbitration and to identify new opportunities for developing this alternative method of settling arguments, IPN reports, quoting an interview given by Dumitru Postovan, president of the International Commercial Arbitration Court under the Moldovan Chamber of Trade and Industry, for Radio Moldova.
“Until May 1994, when Parliament adopted the Law on Arbitration, any dispute deriving from a contract signed by two economic entities or from civil relations was settled in court if the sides didn’t reach an agreement between them. There was no other way. Arbitration is an alternative and this right to choose and to have an alternative is one of the important human rights,” said Dumitru Postovan, adding that the cases in arbitration are examined much faster and this is an advantage.
“If one goes to court to settle a civil dispute, they can go through several courts until the Supreme Court of Justice. The examination process is long. In arbitration, the decision is single, obligatory and definitive. The sides name by themselves the arbitrators whom they consider professionals and with integrity. Our court has a list of recommended arbitrators, which includes 30 foreign arbitrators. But the sides can choose other arbitrators too and they also choose the place where the arbitration hearings will take place. The process is confidential and less costly for the sides.”
Dumitru Postovan also said that besides the Commercial Arbitration Court of the Chamber of Trade and Industry, in Moldova there are also arbitration courts examining arguments or disagreements in transport, agriculture, sport and other areas.
“However, if we compare the situation in our country and in the European countries, where the companies resort mainly to arbitration, in Moldova arbitration is not yet so developed. The people do not know much about arbitration and its advantages. In the conference on May 16, we will discuss these aspects, the role of the courts of law in arbitration and the training of specialists in this field,” added Postovan.
