Riga International Arbitration Court is one of the most active among other institutions of such jurisdiction. Statistics indicate that this arbitration court considers more civil cases than other arbitration courts of Latvia. There are arbitrators of sufficiently high competence here too. The new Civil Proceeding Law filling in the long lasting "gap" in legislation and regulating activities of arbitration courts and the process of arbitration court at the level conforming to modern requirements entered into effect from March 1, 1999 (CPL, Section "D"). Thus cause of doubts has been removed that no appropriate protection of concerned or contested rights may be achieved and no coercive execution of the award may be assured in the arbitration court. Moreover, the process of arbitration court has a number of benefits: speed, possibility to choose competent judges, confidentiality, free choice of the language of litigation, etc.
Riga International Arbitration Court, as well as state court institutions, settles civil disputes, and it is widely recognized. It is essential that the arbitration court settles a civil dispute in a short time, compared to the three-instance lengthy process in state court institutions. The decision of the arbitration court enters into effect on the day of being passed. The principle of secrecy of the process of arbitration court certified in the law is considered to be among benefits of such process in cases when the parties are reluctant to publish data on a dispute between themselves, the progress and results of settlement thereof.
Palasta str 10, Riga, Latvia
- Monday 10:00-13:00 and 14:00-16:00
- Tuesday 10:00-13:00 and 14:00-16:00
- Wednesday 10:00-13:00 and 14:00-16:00
- Thursday 10:00-13:00 and 14:00-16:00
- Friday 10:00-14:00
Legal expenses of the Riga International Arbitration Court are substantially lower than the court fees of the state’s courts of law and there are no expenses for appeals and the Supreme Court of Cassation needed.
Arbitration Court has an extensive list of arbitrators, consisting of highly competent professionals.
Arbitration Court settles any disputes with no unnecessary delay - within a period between a month and 3 months, depending on the complexity of a case.