The court system in Latvia allows for disputes to be settled in general courts, but arbitration also plays an important role in disputes settlements. The main regulatory body in arbitration cases in Latvia is the Arbitration Court of the Latvian Chamber of Commerce and Industry. Arbitration in Latvia is very advantageous because it is flexible and it can be applied in various disputes.
Two parties can go the Latvian Arbitration Court, when a dispute rises and they decide to solve their issues through a mutual agreement. The Arbitration Court will abide by the rules of arbitration in Latvia.
Arbitration courts must register with Arbitration Court Register which is part of the Latvian Enterprise Register. In order to register an arbitration court, the founders must submit with the Trade Register all the documents required by the Civil Procedure Law.
According to the procedure rules, the Arbitration Court in Latvia once established must state its name that must be unique. Then it must state proceedings under which the arbitrators can be nominated or removed from their duties. The court must also declare the procedures that will be conducted when settling disputes and any other conditions.
According to the Latvian Civil Law, any civil matter can be solved by an arbitration court, if it does not breach the following provisions:
If parties have concluded an arbitration agreement, they can submit their dispute to the appropriate arbitration court in Latvia. One of the parties, the plaintiff, will submit his/her claim in writing and the defendant will then respond with a counterclaim. The arbitration court will supervise the correspondence between parties and hear their pleadings and, at the end of the procedures, it will issue an award. The award will be made in writing and will bear the signatures of all the arbitrators.
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