OREANDA-NEWS. April 18, 2011. The International Arbitration Court (IAC) of the Belarusian Chamber of Commerce and Industry adopted new Arbitration Rules. Partner Alexey Anischenko, head of the SORAINEN Dispute Resolution Practice in Belarus and an IAC recommended arbitrator, was a member of the drafting committee, reported the press-centre of SORAINEN.

One of the major novelties in comparison with the previous version is introduction of fast track arbitration for disputes between Belarusian residents. This can take place if the parties are Belarusian residents and the amount of the dispute does not exceed BYR 350 million  (approx EUR 80,000). The special features of the new procedure include resolution of the case by a single arbitrator, limited grounds for conducting a hearing, lower arbitration fees and shorter procedural time limits, including a three-month period for rendering an award. With its new Rules the IAC becomes much more attractive for resolution of commercial disputes, especially domestic disputes which were rarely considered by the IAC because of the time and cost advantages of state courts.

Apart from the new Arbitration Rules, the presidium of the IAC adopted Rules for Conducting Conciliation Procedure (Conciliation Rules) that determine the procedure for conciliation proceedings under the auspices of the IAC.

The full text of new Arbitration and Conciliation Rules (in Russian) can be found on the official web-site of the International Arbitration Court within the Belarusian Chamber of Commerce and Industry.