Despre convenţia arbitrală ca decizie de afaceri
About the arbitral agreement as a business decision

Summary/Abstract: Arbitration is an alternative, private justice, accessed by way of the arbitration agreement – a contract whereby the parties agree on the rules regarding the constitution of the arbitral tribunal, the appointment, revocation and replacement of the arbitrators, the term and place of the arbitration, the procedural rules that the arbitral tribunal must comply with in settling the dispute, the possible procedures prior to the settlement of the dispute, the distribution between the parties of the arbitration expenses and, in general, any other rules regarding the proper conduct of the arbitration. The arbitration is characterized by confidentiality, speed, flexibility, specialization of the arbitrators, the binding character of the arbitral award. The arbitral tribunal has no imperium. The arbitral award is not enforceable. The arbitration fees may be higher than the court stamp duties.

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