Comparative Guides
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Results: 4 Answers
International Arbitration
1.
Legal framework
1.1
What is the relevant legislation on arbitration in your jurisdiction? Are there any significant limitations on the scope of the statutory regime – for example, does it govern oral arbitration agreements?
 
Romania
Emerging economies such as Romania, perhaps more than developed markets, require arbitration-friendly legislation and arbitration-sympathetic courts to provide investors with efficient ways to resolve commercial disputes and encourage engagement with new and relatively challenging markets.

Since 2013, the main body of law applicable to arbitration in Romania is set out in Book IV “On Arbitration” (domestic arbitration) and Book VII “On International Arbitration and the Effects of Foreign Arbitral Awards” (international arbitration) of the Civil Procedure Code. Although the international arbitration provisions are not considered to be based on the UNCITRAL Model Law on International Commercial Arbitration, they are generally in line with its principles.

The domestic arbitration provisions require that a valid arbitration agreement be in writing. This condition will be met if the parties agree to resort to arbitration through the exchange of correspondence, irrespective of form, or through the exchange of procedural submissions.

If the arbitration agreement concerns a dispute relating to the transfer of a property or to the creation of real rights in immovables, the arbitration agreement must be authenticated by a notary public. In practice, a contract constituting rights in immovable property is likely to be in authentic (notarial) form in any event and therefore the question might be of reduced practical importance.

For more information about this answer please contact: Adrian Iordache from SCA Iordache & Iordache (Iordache Partners)
1.2
Does this legislation differentiate between domestic arbitration and international arbitration? If so, how is each defined?
 
Romania
The domestic arbitration provisions set out the legal default and mandatory rules applicable to Romania-seated arbitrations in general, while the international arbitration provisions set out additional and derogatory rules for proceedings involving foreign elements.

In proceedings which are considered international, procedural periods (eg, notice periods) are extended. Also, the default position in international proceedings regarding the arbitrators’ fees is that each party bears the costs of its appointed arbitrator, while the fees of the presiding arbitrators are shared equally, unless the arbitration agreement provides otherwise (bearing in mind, in this case, that institutional rules, where applicable, will fall within this category of parties’ agreement and will often regulate liability for costs).

For more information about this answer please contact: Adrian Iordache from SCA Iordache & Iordache (Iordache Partners)
1.3
Is the arbitration legislation in your jurisdiction based on the UNCITRAL Model Law on International Commercial Arbitration?
 
Romania
Although the arbitration provisions are not considered to be based on the UNCITRAL Model Law on International Commercial Arbitration, they are widely considered to be in line with its principles.

For more information about this answer please contact: Adrian Iordache from SCA Iordache & Iordache (Iordache Partners)
1.4
Are all provisions of the legislation in your jurisdiction mandatory?
 
Romania
As a general rule, under Romanian law, the arbitration will be governed by the arbitration agreement, through which the parties can regulate the procedure. Therefore, the arbitration provisions are not mandatory.

However, parties cannot derogate from public order and imperative provisions (Article 541 of the Civil Procedure Code), or from general procedural principles such as due process, the right to be heard and the adversarial principle (Article 576 of the Civil Procedure Code).

For more information about this answer please contact: Adrian Iordache from SCA Iordache & Iordache (Iordache Partners)
1.5
Are there any current plans to amend the arbitration legislation in your jurisdiction?
 
Romania
There are no plans to amend the arbitration provisions in the Civil Procedure Code.

For more information about this answer please contact: Adrian Iordache from SCA Iordache & Iordache (Iordache Partners)
1.6
Is your jurisdiction a signatory to the New York Convention? If so, have any reservations been made?
 
Romania
Romania has ratified the New York Convention and the enforcement procedure is in line with the New York Convention. Romania made two reservations: the commercial reservation and the reciprocity reservation.

For more information about this answer please contact: Adrian Iordache from SCA Iordache & Iordache (Iordache Partners)
1.7
Is your jurisdiction a signatory to any other treaties relevant to arbitration?
 
Romania
Romania is a party to:

  • the International Centre for Settlement of Investment Disputes Convention (signed 6 September 1974; deposited 12 September 1975; entered into force 12 October 1975);
  • the Energy Charter (signed 17 December 1994; ratified 10 March 1996; deposited 12 August 1997; entered into force 16 April 1998); and
  • the European Convention on International Commercial Arbitration (signed 21 April 1961; ratified 16 August 1963).
For more information about this answer please contact: Adrian Iordache from SCA Iordache & Iordache (Iordache Partners)