Memorandum of Cooperation signed

Today, the Public Property Agency and the Arbitration Association of the Republic of Moldova signed a Memorandum of Cooperation.

According to the current legislation of the Republic of Moldova, the state is obliged to inform the society about the existence and benefits of any kind of methods to resolution of disputes, such as, for example, arbitration. Unfortunately, until recently, this idea did not find a clear response from the side of state authorities.

However, this year the situation has gained a favorable turn. The Arbitration Association of the Republic of Moldova and the Public Property Agency signed a Memorandum of cooperation, which, according to experts in the field of law, demonstrates the intentions and desire of state bodies to expand the possibilities of providing information for the business environment on alternative options for resolving disputes.

The signed memorandum is based on the support of democratic values and the principles of the supremacy of law, the development of justice policies through arbitration institutions in the Republic of Moldova, and the development of reference strategies in this area at the national level in cooperation with government bodies and international structures.

Within the framework of the signed memorandum, the Public Property Agency of the Republic of Moldova, represented by the General Director Mikhail RUSU and the Association of Arbitration of the Republic of Moldova, represented by the President of the Association, Valentin VIZANT, will collaborate in organizing, conducting and participating in seminars, conferences, meetings, trainings on both international and national level, attracting qualified specialists in the priority areas of the Association of Arbitration, namely, arbitrators, experts, local and foreign experts in the field of arbitration justice.

According to the Chairman of the Association of Arbitration of the Republic of Moldova Valentin VIZANT, this agreement will help not only to participate in various national and international programs and projects, but also to actively cooperate in preventing acts of corruption and other negative manifestations.

“This agreement will give impetus to the development of arbitration and arbitration bodies in the Republic of Moldova as a whole. This is a very positive signal for our justice. I would like to note that those who once resorted to the services of an arbitration court are imbued with great confidence in this structure. That is why more and more legal entities that understand the benefits of arbitration always enter an arbitration clause in contracts signed with clients, ”said VIZANT. The arbitration court is designed to increase the use of national and international arbitration, as well as other alternative methods of dispute resolution, including mediation.

The Republic of Moldova is among the 150 states that have signed and ratified the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards.