SHORT OVERVIEW OF INTERNATIONAL ARBITRATION RULING IN ROMANIA FROM THE PERSPECTIVE OF THE RULES OF NEWLY ESTABLISHED ARBITRATION FORUMS
SHORT OVERVIEW OF INTERNATIONAL ARBITRATION RULING IN ROMANIA FROM THE PERSPECTIVE OF THE RULES OF NEWLY ESTABLISHED ARBITRATION FORUMS

Summary/Abstract: In Romania there are several traditional or new arbitral Courts that are willing to provide their services to legal entities in an international context and in a competent and efficient semblance. Two of these, the Arbitration Court of the Romanian-German Chamber of Industry and Commerce and Bucharest International Arbitration Court, adopted their Rules relatively recent and eluded from practitioners reviews. Therefore, the present article will analyze the Rules of the mentioned arbitral Courts by comparison with the ICC Rules, LCIA Rules and HKIAC Rules, starting from the most valuable characteristics of international arbitration, as determined in the 2015 International Arbitration Survey 3, with the purpose of concluding if the new arbitral Courts of Romania are important competitors in the field and if their recommended arbitration agreement should be included in the commercial agreements.

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