Arbitration

Arbitration is a way to settle a dispute outside of the courts. Almost like an alternative way for the parties to settle a resolution. A third party reviews the cases and each sides opposing argument and decides according to the law binding agreement. The object is to obtain a fair resolution without any unnecessary expenses or delays. Parties can agree on how their dispute will be resolved and the courts should not interfere. Arbitration is governed by state and federal law and can be classified into 3 types:

Consumer Arbitration – Is a dispute between the consumer and supplier.

Commercial Arbitration – Is a dispute between two commercial parties.

Labor Arbitration – Split into two categories (Rights Arbitration and Interest Arbitration). It would represent an employment based dispute.

The Russian Arbitration Institute would most likely be the Supreme Court of Arbitration of Russia or International Commercial Arbitration Court (ICAC) of the RF Chamber of Commerce and Industry. The Supreme Court of Arbitration of Russia is a state authority that settles most commercial disputes

“Russia’s Law on International Commercial Arbitration of 1993 is based on the UNCITRAL Model Law on international commercial arbitration and applies to arbitration with respect to the international commercial disputes that take place in the Russian Federation.” (Russian Chamber of Commerce). This law governs the disputes between international enterprises. The Federal Arbitration Act is the law that governs the United States arbitration disputes.

If the dispute was settled in Russia, it is required that each party has to make their own arrangements for assigning procedures, laws, and rules. Also, both parties can select a council for each case. From my research, the International Commercial Arbitration Court of the RF Chamber of Commerce and Industry is one of the most respected institute in Russia. They can easily accept English documentation without any language...