See more
Publication date: 05.04.2024
I am studying in the third year of the State University of Economics and Technology.I specialize in contractual, economic and corporate law, in particular, I provide consultations and write articles.
The foreign economic activity of individuals and legal entities is full of a large number of risks, and therefore disputes in this sphere are quite a frequent phenomenon. One of the methods of their settlement is an appeal to international commercial arbitration, which is authorized to consider disputes arising from contractual legal relations in the implementation of international trade or other international relations, disputes between enterprises with foreign investments, or disputes between the administrator of the issue of shares and the issuer, etc. At the same time, in addition to the appeal and procedure of consideration of the parties, the plaintiff often worries about the recognition of the decision made by the arbitration and the procedure for its implementation in Ukraine.
Peculiarities of recognition and enforcement of decisions of international arbitration in Ukraine:
International commercial arbitration has its own legal features that distinguish it from national arbitration. Participants in international commercial arbitration may be from different countries, and disputes may have an international character. This means that the arbitration tribunal consists of arbitrators from different jurisdictions, and the rules of the procedure can be appointed taking into account international standards.
The parties have a greater degree of autonomy in determining the procedural aspects of the arbitration process, such as the choice of arbitrators, the place of the arbitration session, the language of the proceedings, etc. The parties have the opportunity to choose an arbitrator with relevant knowledge and experience in the field of commercial law. As for recognition and implementation of arbitration decisions, according to Art. 478 of the Code of Civil Procedure the court may refuse to recognize the decision and as a result of its execution if: the defendant submits to the court at least one of the evidence, namely: proof that one of the parties is incapacitated or the arbitration agreement is declared invalid, proof that the defendant was not informed of the proper the image of the appointment of the arbitrator or the consideration of the dispute in general, accordingly, it made it impossible to present the explanation on his part, proof that the decision was made by a party to the dispute, which is not provided for by the arbitration agreement or does not correspond to the terms of or goes beyond such an agreement; proof that the composition of the arbitration, the procedure did not correspond to the agreement that was concluded between the parties, and also proof that the arbitration decision has not yet entered into force or has been canceled or the execution has been stopped by the state of the court in which it was adopted.
In Ukraine, the procedure for recognition and enforcement of arbitration decisions is regulated by the Civil Procedure Code of Ukraine and the Law of Ukraine "On International Commercial Arbitration".
Here are the main steps that must be taken to recognize and enforce arbitration decisions in Ukraine:
1. A person or organization wishing to recognize and enforce an arbitration decision must submit an application to the appropriate district court at the location of the debtor or by decision.
2. Together with the application, the original or a copy of the arbitration decision should be submitted, as well as a document confirming that the arbitration decision has become final and binding.
3. The court considers the application and makes a decision on recognition or refusal to recognize the arbitration award. The court may refuse to recognize the arbitration award only in cases defined by law.
4. In order to execute a court decision, you should apply to the relevant executive body with an executive document - a court decision.
These procedures may have their own features and additional requirements depending on the situation and conditions, so it is recommended to get professional advice from a lawyer or legal consultant on the recognition and enforcement of arbitration decisions in Ukraine.
Legal services for business in the process of recognition and enforcement of international arbitration decisions:
A lawyer for business may be needed both at the stage of applying to international arbitration and at the stage of recognition and execution of its decisions. A business lawyer will ensure compliance of all actions with the current legislation, prepare procedural documents and accompany the plaintiff at all stages of consideration. So, legal protection of business is an indispensable tool in the process of protecting one's rights.
