Currency rates from 27/11/2024
$1 – 12820.47
UZS – 0.04%
€1 – 13470.47
UZS – 0.21%
₽1 – 122.26
UZS – -1.0%
Search
Economy 10/06/2008 Legal experts of Tashkent learn arbitration system

The arbitration system is relatively new for Uzbekistan. The presidential decree "On further improvement of the system of legal protection of enterprise entities" of 14 June 2005 provided the legal framework for operation of the arbitration courts in Uzbekistan. It was followed by adoption of the Law "On arbitration courts" of 26 August 2007. The main purpose of the Law is to address the shortcomings of legal regulation on establishment, functioning and termination of activity of arbitration courts in the Republic of Uzbekistan. The law came into force in February 2007.

The novelty of the system in Uzbekistan creates some difficulties for further development and popularization of the arbitration court in the country. Among the problems are inadequate number of skilled arbitration judges, lack of methodology and rules of documents circulation, low knowledge of businesses and population of the arbitration, etc.

About 15 legal experts of banks, credit unions, private and state-run companies attended the seminar, which provided an overview on the activities of the newly established Arbitration Development Center, new trends in the arbitration systems, advantages and disadvantages of the arbitration, procedures of the system and other issues. The organizations were encouraged to solve the disputes with their clients and partners through the arbitration and include corresponding clause in the model contracts.

The Project will organize similar workshops in other regions of Uzbekistan to develop the arbitrators’ skills, promote knowledge on arbitration and mediation as well as raise awareness of local businesses and population on procedures of the arbitration courts.

The seminar was organized within the joint project of UNDP and Chamber of Commerce and Industry of Uzbekistan "Supporting to the development of arbitration courts and other alternative methods of dispute settlement in the Republic of Uzbekistan". The project focuses on development of the arbitration courts and other alternative ways of dispute resolution through creation of Arbitration Development Center, which was officially opened in early May 2008.

The project also set an objective to promote the arbitration system and other alternative methods of dispute settlement in Uzbekistan among businesses, lawyers and judges.
Stay up to date with the latest news
Subscribe to our telegram channel