International Commercial Arbitration at Croatia
Are you looking for information about International Commercial Arbitration in Croatia? Here’s a concise overview that might help:
International Commercial Arbitration in Croatia
1. Legal Framework:
Croatia is a party to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958), which facilitates enforcement of arbitral awards internationally.
The main domestic law governing arbitration is the Arbitration Act (Zakon o arbitraži), which aligns closely with the UNCITRAL Model Law on International Commercial Arbitration.
Croatia is also a member of the European Convention on International Commercial Arbitration.
2. Arbitration Institutions in Croatia:
Croatian Chamber of Economy (CCE) Arbitration Center — the main institution providing arbitration services for commercial disputes, both domestic and international.
Other institutions may be involved depending on the industry or parties’ agreement.
3. Procedure:
Arbitration agreements must be in writing.
Parties are free to choose arbitrators; if not, the institution appoints them.
Arbitration proceedings are confidential.
The process is flexible and designed to resolve disputes efficiently.
Courts in Croatia support arbitration by assisting in evidence gathering or enforcement but generally avoid interfering with arbitration.
4. Enforcement of Arbitral Awards:
Croatia enforces both domestic and foreign arbitral awards under the New York Convention.
Croatian courts recognize arbitration awards unless there are serious procedural violations.
5. Advantages of Arbitration in Croatia:
Neutral forum for international parties.
Speedier and more flexible than court litigation.
Expertise of arbitrators in commercial matters.
Confidentiality.
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