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ARBITRATION COURT ATTACHED TO THE ECONOMIC CHAMBER OF THE CZECH
REPUBLIC AND AGRICULTURAL CHAMBER OF THE CZECH REPUBLIC |
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AGREEMENT ON COOPERATION IN THE
FIELD OF INTERNATIONAL
COMMERCIAL ARBITRATION BETWEEN THE ARBITRATION COURT ATTACHED TO THE ECONOMIC CHAMBER OF THE CZECH REPUBLIC AND AGRICULTURAL CHAMBER OF THE CZECH REPUBLIC AND THE PERMANENT COURT OF ARBITRATION ATTACHED TO THE |
The Arbitration Court attached to the Economic Chamber of the Czech Republic and Agricultural Chambr o the Czech Republic (referred to as "Arbitration Court") and the Permanent Court of Arbitration attached to the Chamber of Commerce and Industry of Slovenia (referred to as "Permanent Court o Arbitration"), believing that wider use of commercial arbitration will contribute to the stability of economic transactions between the Czech Republic and Slovenia, have agreed as follows:
Article 1
The Arbitration Court and the Permanent Court of Arbitration shall each recommend enterprises engaged in economic transactions between the Czech Republic and Slovenia the insertion of the following arbitration clause in contracts between such enterprises:
"All disputes that may arise between the parties out of or in relation to this contract shall be settled by arbitration under the Czech - Slovenia Arbitration Agreement. The place of arbitration shall be, unless otherwise agreed between the parties, the country in which respondent resides. In case the respondent is an enterprise operating within the Czech Republic, the arbitration shall be conducted by the Arbitration Court in accordance with its Rules and Principles. In case the respondent is an enterprise of Slovenia, the arbitration shall be conducted by the Permanent Court of Arbitration in accordance with its Rules."
Article 2
(1) Any arbitrator shall not be limited to the national
of either country where the arbitration takes place.
(2) The language of English shall, unless otherwise agreed between the
parties, be used in the arbitration proceedings either at the Arbitration
Court or at the Permanent Court of Arbitration.
Article 3
The Arbitration Court and the Permanent Court of Arbitration will co-operate to promote international commercial arbitration between the two countries and will exchange all necessary information and opinions conductive to the realisation of this Agreement.
Article 4
Believing that the bringing of their respective arbitration laws and rules into closer harmony will contribute to the further stablity and development in economic transactions between the enterprises of the two countries, the Arbitration Court and the Permanent Court of Arbitration will exert every effort to this end.
Article 5
This Agreement shall be called the "Czech - Slovenia Arbitration Agreement".
Article 6
This Agreement is done in English and shall become
effective on March 1, 2002.
| For and behalf of THE ARBITRATION
COURT ATTACHED TO THE ECONOMIC CHAMBER OF THE CZECH REPUBLIC AND AGRICULTURAL
CHAMBER OF THE CZECH REPUBLIC |
For and behalf of THE PERMANENT COURT OF ARBITRATION ATTACHED TO THE CHAMBER OF COMMERCE AND INDUSTRY OF SLOVENIA |
| Dr. Bohuslav Klein President |
Prof.dr.Krešo Puharič President |
| Date: 21.3.2002 | Date: 29.3.2002 |
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