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Arbitration Clauses & Agreements

1) A arbitration clause for alternative arrangements at the State Court (recommended):

“All disputes under this agreement are held in open session at the discretion of the plaintiff: in state court or in the Moscow Arbitration Court (for transferal to resolution and administration via “arbitration court established for the purpose of resolving a particular dispute” under the sole chairmanship of Judge A.V. Kravtsov in accordance with its rules as posted on the website www.a-tsm.ru). The parties have familiarized themselves with the rules of the Arbitration Court. Participation of the parties and arbitrator in the meetings is allowed by videoconference. The resolution of the arbitration tribunal is final. The enforcement order is issued at the place of arbitration.”

2) А arbitration clause without option:

“All disputes under this agreement are held in open session in the Moscow Arbitration Court (for transferal to resolution and administration via “arbitration court established for the purpose of resolving a particular dispute” under the sole chairmanship of Judge A.V. Kravtsov in accordance with its rules as posted on the website www.a-tsm.ru). The parties have familiarized themselves with the rules of the Arbitration Court. Participation of the parties and arbitrator in the meetings is allowed by videoconference. The resolution of the arbitration tribunal is final. The enforcement order is issued at the place of arbitration.”

3)А arbitration clause with compensation:

“All disputes under this agreement are held in open session at the discretion of the plaintiff: in state court or in the Moscow Arbitration Court (for transferal to resolution and administration via “arbitration court established for the purpose of resolving a particular dispute” under the sole chairmanship of Judge A.V. Kravtsov in accordance with its rules as posted on the website www.a-tsm.ru). The parties have familiarized themselves with the rules of the Arbitration Court. Participation of the parties and arbitrator in the meetings is allowed by videoconference. The resolution of the arbitration tribunal is final. The enforcement order is issued at the place of arbitration.”

“The parties agree that all costs associated with the enforcement of the Arbitration Court’s decision are borne by the losing party and are subject to voluntary reimbursement to the prevailing party within three working days of the date of submission of the relevant written request. The aforementioned costs include: engaging legal entities or individuals to obtain in state court an enforcement order for the enforcement of the decision of the Arbitration Court and all related actions; engaging legal entities or individuals to search for, transport and store the property of the losing party during the enforcement stage of the proceedings or to secure a claim and all related actions; payment of state fees; engaging translators; copying, notarial services and other certification of documents; postage expenses; and other associated costs. In case of non-fulfillment of these obligations on a voluntary basis, the party incurring the costs of enforcing the decision of the Arbitration Court has the right, in a separate suit and at its discretion, to file a claim for reimbursement of these expenses with the Moscow Arbitration Court (for transferal to resolution and administration via “arbitration court established for the purpose of resolving a particular dispute” under the sole chairmanship of Judge A.V. Kravtsov in accordance with its rules as posted on the website www.a-tsm.ru)or to the appropriate state court.”

 

 

 

Please note!

1) For supplementary amendment contracts: in the arbitration agreement it is essential to add an item about the procedure of making alterations in the arbitration agreement. (“The introduction of amendments to this arbitration agreement is possible by bringing the required protocol to the Bank no later than 5 working days before the Agreement comes into force”). Failing this, in accordance with Clause 3 Section 5 of Federal Law FZ-102, the arbitration agreement must be entered into only after disputes arise.

2) For Consumer Credit Agreements:“The borrower and the lender have the right to conclude an arbitration agreement about the resolution of disputes in a consumer credit agreement (loan) only after grounds for such a claim have arisen. (The RF Law 353-F3 of 21^st Dec 2013 “Concerning consumer credit” came into force on 01.07.2014) Explanation: from 01.07.2014 arbitration agreements may be concluded as supplementary agreements after default, or alternatively as a separate agreement after the first default. Claims under consumer credit agreements taken out before 01.07.2014 are heard by the normal process.