ARBITRATION UNDER NEW RULES OF THE INTERNATIONAL COMMERCIAL ARBITRATION COURT IN MOSCOW

Abstract

This article is a review of new Rules of the International Commercial Arbitration Court in Moscow, effective since March 1, 2006. The Rules observed the latest developments in international commercial arbitration aiming promotion of an effective and speedy arbitration in Russia. It is natural, that together with the growth of Russian international business transactions the number of commercial disputes has increased accordingly. Having a long history and extensive experience the ICAC has become one of the top venues for international commercial arbitration. It is noted that the number of disputes between nonRussian parties has risen immensely during the last decade. The author trusts that in the light of the existing economic cooperation between Finland and Russia the article will be useful for students, scholars, and practicing attorneys.