Answer ... International commercial arbitration is governed by the Law of Moldova 24, dated 22 February 2008 (Law 24/2008), while domestic arbitration is regulated by the Law of Moldova 23, dated 22 February 2008 (Law 23/2008). Although both laws are based on the UNCITRAL Model Law on International Commercial Arbitration, Law 23/2008 includes certain local specifics (eg, the requirement to include in the arbitration agreement a mechanism to constitute an ad hoc arbitral tribunal). Certain norms on recognition and enforcement are also included in the Code of Civil Procedure.
Moldova is a signatory to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958.
Answer ... Yes. Under Law 24/2008, an arbitration is international if, at the time the arbitration agreement is concluded:
- the parties have their place of business in different states;
one of the following places is situated outside the state in which the parties have their place of business:
- the seat of arbitration, as determined in, or pursuant to, the arbitration agreement; or
- the place where a substantial part of the obligations of the commercial relationship is to be performed or the place with which the subject matter of the dispute is most closely connected; or
- the parties have expressly agreed that the subject matter of the arbitration agreement relates to more than one country.
Domestic arbitration is an alternative dispute resolution mechanism between individuals and/or legal entities either from or residing in Moldova.
Answer ... Moldova is a Model Law country and therefore arbitration is based on the principle of party autonomy. The parties may freely agree on various issues, unless the law provides a mandatory rule (eg, the number of arbitrators may be freely chosen, but must be an odd number). As for issues not specifically addressed by the parties, Law 23/2008 and Law 24/2008 contain supplementary provisions.
Answer ... Yes – Moldova is a signatory to the New York Convention as of 18 September 1998. The following reservations were made by Moldova:
- “The New York Convention will be applied to the Republic of Moldova only relating those arbitral awards that have been brought after entering into force of the Convention.”
- “The New York Convention will be applied to the Republic of Moldova, on the basis of reciprocity, only relating those awards made in the territory of another Contracting State.”
Answer ... Yes, Moldova is also a signatory to the Washington Convention on the Settlement of Investment Disputes between States and Nationals of Other States and the European Convention on International Commercial Arbitration of 1961.