The Laws reforming the arbitration system in Russia will come into force on September 1, 2016 . We bring to your attention an overview of the most important amendments in arbitration in Russia:
1. Institutional arbitration will be primary institute in commercial dispute resolution.
- Institutional arbitration will have to be affiliated with non-profit organizations;
- The Institutional arbitration will have to obtain license (authorization) for adjudication of dispute on the basis of the Government Act;
- Authorization procedure also applies to foreign arbitration functioning in Russia;
- The International Commercial Arbitration Court and the Maritime Arbitration Commission are entitled to handle cases without special authorization;
- Existing Institutional arbitrations have to obtain authorization within 1 year from the date of adoption of authorization procedure by the Russian Government;
- Arbitration which will not receive such authorization may transfer disputes to the legal successors under certain conditions;
- Arbitration agreements concluded before September 1, 2016, remain valid and cannot be found invalid or unenforceable.
