The Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of Romania is the oldest commercial arbitration institution in Romania, being established in 1953 and have been active for more than 60 years.
Throughout this time, the Arbitration Court has formed and maintained a very good reputation through the arbitrators it had and also through the quality of the arbitral awards rendered. Thus, the main elements of building the trust of this institution are given by:
1. the quality of the arbitral awards;
2. good professional reputation of the arbitrators (both Romanian and foreign arbitrators);
3. Institutional stability of the Court because in the field of commercial arbitration the parties need to know that if they insert an arbitration clause within the contract, in a few years when they shall request the Court’s services, the Court will be still active, not only at the time of dispute settlement, but also at the time when the arbitration award shall be enforced.