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Arbitration Court in Georgia

Updated on Thursday 18th October 2018

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Arbitration-Court-in-Georgia.jpgThe legislation on arbitration in Georgia is given by the Law on Arbitration, a rule of law which became applicable in this country starting with 1st of January 2010, replacing the previous law on this matter. The new legislation on arbitration follows the UNCITRAL (United Nations Commission on International Trade Law) model, and it is applicable to both domestic and international arbitration proceedings. Our team of lawyers in Georgia can offer in-depth legal assistance on this regulation. 
 

The Georgian International Arbitration Centre 

 
After the new legislation on arbitration was established, the Georgian authorities have set up in 2013 the Georgian International Arbitration Centre (GIAC), which is seen as the main international arbitration institution of the country. The purposes for which the institution was set up are the following:  
 
  • promoting arbitration as the main dispute resolution method for both domestic and international disputes;
  • in the situation in which both parties involved in the respective dispute have agreed upon the GIAC Arbitration Rules, the institution will administer the resolution of the case;
  • GIAC is established in order to provide settlements for disputes arising in the country, as well as in the Caucasus and the Black Sea-Caspian regions;
  • it is also set up in order to establish an Alternative Dispute Resolution Training Center and to organize workshops, conferences and other related events in the field of arbitration
 

What is an arbitration agreement in Georgia?   

 
As prescribed by the Law on Arbitration, parties involved in arbitration cases in Georgia are required to sign an arbitration agreement. It is necessary to know that this type of contract has to be concluded in writing and our team of Georgian lawyers can offer in-depth advice on its provisions. 
 
The Georgian legislation on the matter also stipulates that a document qualifies as an arbitration agreement if it is presented as an electronic notification. The agreement can be concluded as an arbitration clause added in a contract or as a separate legal document (as per Article 8.2 of the Law on Arbitration). Businessmen are invited to contact our law firm in Georgia for more information concerning this subject; our attorneys can assist with further details related to the arbitration proceedings applicable here.   
 

Comments

  • Bernadine 2018-10-18

    I have recently visited Georgia for business purposes and I have to say that, as the years are passing by, the local legal system becomes more solid and reliable.

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