Trade Disputes in Israel
- As it falls within the competence of jurisprudence, the tribunals are inclined to consider each case on the basis and in the practice of the tribunals to adjust the rights of the parties based on the business circumstances. However, the disputes will not be always judged by the Court. It is often stipulated in the distribution or agency agreements that the parties should submit to arbitration to settle the dispute. This solution consists of intervantion of an arbitrator who shall take the final decision.
- Arbitration Law
- Law governing arbitration in Israel is the Arbitration Law of 1968.
- 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
- The law allows any individual to be named are arbitrator and it does not impose special capabilities or qualifications. The Parties are inclined to name an impartial person as arbitrator and prefer one who has an expertise in a particular field. The parties can stipulate in the arbitration agreement, the procedure for nomination of an abritrator or a special arbitration group. The Israel Institute of Commercial Arbitration situated at Tel-Aviv is an organisation which is specialised in commercial arbitration for multinational companies.
- Arbitration Procedure
- Arbitrations are carried out in a very efficient manner, and in most of the cases, they come to an end within 6 to 9 months.
- Permanent Arbitration Bodies
Israeli Institute of Commercial Arbitration (IICA) (Sectors Covered: All sectors)
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