Source: http://bucharestarbitration.org/
Timestamp: 2017-09-24 06:46:48
Document Index: 763483323

Matched Legal Cases: ['Art. 4', 'Art. 4', 'Art. 2', 'Art. 4', 'Art. 3', 'Art. 3', 'Art. 7', 'Art. 9', 'Art. 20']

Bucharest Arbitration – Bucharest Arbitration
Global Arbitration for Central and Eastern Europe
@ Ionut Plopeanu
This project is developed under the auspices of
Bucharest International Arbitration Court (BIAC)
The Bucharest International Arbitration Court (BIAC) is a new Romania-based arbitration center, focusing on business and commercial disputes in the Romanian and English languages, especially involving foreign investors and multinationals active in Romania.
BIAC’s closed list of Romania-based and foreign arbitrators includes well-known international arbitrators who are specialized in niche areas such as FIDIC/construction law, international commercial and corporate law, intellectual property (IP) rights, banking, corporate and project finance as well as VC/PE investments.
BIAC’s rules of arbitration are based on a combination of "best practices" arising from various international arbitration rules such as UNCITRAL, the LCIA, the ICC and the AAA/ICDR, and by reference therein has adopted the International Bar Association’s Guidelines on Conflicts of Interest in International Commercial Arbitration and the International Bar Association’s Rules on the Taking of Evidence in International Commercial Arbitration.
Bucharest International Arbitration Court (BIAC) is an independent Romania-based court of arbitration established under the auspices of the American Chamber of Commerce in Romania (AmCham Romania), which is providing a reliable forum through which companies come together and exchange information to promote and develop their mutual interests in Romania and global competitiveness of the country.
BIAC is ensuring arbitration services provided in a fair, transparent and expeditious manner, and of a quality comparable to well-known international arbitration institutions.
BIAC has rules of arbitration that are based on a combination of “best practices” in line with those of well-known international arbitration institutions and is appointing Romanian and foreign arbitrators which have strong reputations and substantial professional experience.
ORGANIZATIONAL - REGULATIONS
BIAC, acting through its Administrative Council and its Governing Board, shall only perform those responsibilities and tasks which are entrusted to it by the Rules or these Regulations.
2. Jurisdiction, Composition, Appointment and Initiation
BIAC shall perform the following main tasks (with the right to perform additional tasks as the case may be pursuant to a decision of the Governing Board): (a) Receive requests for the appointment of an Arbitral Tribunal by the Governing Board (Art. 4(1) of the Rules). (b) Deliver copies of the request for the appointment of an Arbitral Tribunal to the Respondent and simultaneous setting of a time period for the appointment of the party's arbitrator (in the case of an Arbitral Tribunal consisting of three arbitrators), respectively for the notification of acceptance of the Claimant’s proposal or for the notification of a counterproposal by the Respondent (in the case of a sole arbitrator), by the Governing Board (Art. 4(2) of the Rules). (c) If the parties have not made a decision as to the number of arbitrators on the respective Arbitral Tribunal within thirty (30) calendar days from receipt of the arbitration request: decide on whether one or three arbitrators shall be appointed by the Governing Board (Art. 2(2) of the Rules). (d) Set a time period of fifteen (15) calendar days for the parties to agree upon the person of the sole arbitrator by the Governing Board (Art. 4(2) of the Rules). (e) If the parties fail to agree upon the person of the arbitrator within the stipulated and communicated time period and upon request of one party: appoint a sole arbitrator from the BIAC's list of arbitrators by the Governing Board (Art. 3(1) of the Rules). (f) If one party fails to notify the other party of its appointed arbitrator within the stipulated and communicated time period and upon request of one party: appoint a second arbitrator from the BIAC's list of arbitrators by the Governing Board (Art. 3(3) of the Rules).
BIAC secretariat shall perform the following main tasks (with the possibility to perform additional tasks as instructed by the Governing Board): (a) Provide, to the extent necessary, secretarial services to presiding arbitrators and sole arbitrators; (b) Serve as the paying office for the registration fee (Art. 7(2)(h) of the Rules) and for advances against costs (Art. 9 of the Rules), administers the accounting/bookkeeping books of the respective Arbitral Tribunals (dealings with banks, organization of signatures, payment of arbitrators' fees and expenses according to the instructions of the chairman arbitrator or the sole arbitrator, final accounts, etc.); (c) Procure, on request of an Arbitral Tribunal, court stenographers, translators and translations; (d) Assist arbitration proceedings pursuant to requests from the respective arbitrators and/or the parties in an arbitration proceeding or the Governing Board; (e) Maintain the record of an arbitration award (Art. 20(10) of the Rules), including all correspondence, pleadings and evidence/exhibits submitted by the parties.