The Romanian arbitration aligns with the new international trends by adapting the operating rules to the needs and requirements of the business environment. Starting January 1, 2018, new Rules of Arbitration are governing the arbitration process.The business environment and business models evolve rapidly under the impact of technology development and digitization, influencing trade relations and the necessity to settle disputes fast. In line with these trends, the strategy of the Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of Romania for the coming years involves the implementation of a series of actions aimed at enabling the business community to use commercial arbitration as a fast and effective form of dispute resolution.
In this context, the Court of Arbitration has started to apply these Rules of Arbitration starting January 1, 2018. The Rules have been developed by a team of specialists in the field after a long public debate with all stakeholders.
The new rules support the business environment, are in line with best European and international practices in the field and are capable of contributing to the fast and efficient settlement of disputes between traders.
They capitalize on the significant experience gained at national and international level in the field of arbitration and undertake a solid reform of the commercial arbitration operation in Romania.
The application of these new rules aims at streamlining the procedure, accelerating it and increasing the quality of the arbitration process.
Main novelties brought by the new rules are:
• Improving the administration of the case by the arbitral tribunal by introducing the requirement for a full procedural timetable on the activities to be performed in the file;
• Renouncing the alternate arbitrator’s institution and strengthening the role of the presiding arbitrator in administering the procedure;
• Establishing clear regulation for multi-party arbitration;
• Establishing a clear boundary between the written and oral stages of the arbitration process, emphasizing the written stage;
• Introducing a simplified procedure for low-value cases (up to 50,000 lei) or when the parties agree to do so;
• Introducing Emergency Arbitrator institution who will be able to take precautionary and provisional measures even before the arbitral tribunal is established.
The implementation of these new rules comes at an anniversary date for the Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of Romania, this year celebrating 65 years of existence. By Decree no. 453/1953, in force on November 26, 1953, was approved the Regulation on the organization and functioning of the Arbitration Commission attached to the Chamber of Commerce and Industry of the Romanian People’s Republic, and starting with 1990 International Commercial Arbitration operated under the Decree-Law no. 139/1990.
I have the belief that commercial arbitration will be strengthened in the years to come, and the Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of Romania will maintain its position as a credible institution with high integrity professionals.
Professor Stefan DEACONU, PhD
The Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of Romania
Bucharest, January 2018