Trade Disputes in the Czech Republic
- Recognized under the Czech law as a legitimate method for settling disputes, used both - in the field of international transactions and domestic disputes (especially in the commerce area)
- Arbitration Law
- The area of arbitration proceedings is regulated in Act no. 216/1994 Coll. governing arbitration proceedings and the enforcement of arbitration rulings
- Conformity to International Commercial Arbitration Rules
Party to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
Party to the Geneva Protocol on Arbitration Clauses.
Party to the Geneva Convention of the Execution of Foreign Arbitral Awards.
- Appointment of Arbitrators
- Parties may agree that one or more arbiters or the permanent court of arbitration (arbitration agreement) may hear and rule on any property disputes which would otherwise fall under the authority of the courts.
- Arbitration Procedure
- After hearing the parties, the arbitrator makes an award. One instance only. It is not possible to appeal against the arbitral award rendered at the end of the proceedings.
- Permanent Arbitration Bodies
Court of Arbitration at the Chamber of Commerce of the Czech Republic and the Agrarian Chamber of the Czech Republic (Sectors Covered: General sphere)
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