On November 15, 2017, the Chamber of Commerce and Industry of the Republic of Moldova held another meeting with representatives of a group of companies – members of the CCI of the Republic of Moldova with the management of the CCI of RM, the Mediation Center and the International Commercial Arbitration Court of the CCI of RM. At the meeting, Mr. Harea Serghei, President of the CCI, stressed that mediation and arbitration are the most appropriate ways of settling disputes for day-to-day dynamics, where time is the most valuable resource.
The Mediation Center, as a promoter of mediation in the Republic of Moldova, both at regional and national level, provides high quality, fast and efficient services. Mr. Lefter Dumitru, Director of the Mediation Center of the CCI of Moldova, emphasized that the Center has a rich experience, being the first mediation organization in Moldova. Mr. Postovan Dumitru, the President of the International Commercial Arbitration Court, noted that: the International Commercial Arbitration Court of to the Chamber of Commerce and Industry of the Republic of Moldova was established for the administration of commercial arbitration in order to settle disputes of foreign trade and domestic disputes, being a permanent arbitration institution.
| Particularities of Mediation | Advantages of Mediation and Arbitration |
Particularities of Arbitration
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| · privacy vis-à-vis both the adverse party and third parties;
· the mediation transaction has enforceable force · the parties themselves determine their solution, being judges of their own dispute · Relationships between the parties to the dispute remain good because no party loses the case (win-win principle) |
· impartiality of the mediator/ arbitrator
· meetings are confidential and not public · dispute settlement takes place in limited terms · low costs · the procedure is faster and less formal · the parties designate their own arbitrators / mediator · the possibility of corruption is excluded |
· the arbitrators have specialized competence, being recognised at national and international level
· arbitration decisions have wide international recognition, being final and binding |
The Chamber of Commerce and Industry of the Republic of Moldova considers that it is important for the business community to know more about the possibility of settling its disputes through extrajudicial channels. In order to inform, promote and improve mediation and arbitration processes within the chamber institution, a subsequent similar meeting will be held on November 21, 2017 at 11.00.
