The unprecedented increase in disputes with foreign companies on the territory of the Russian Federation has become a challenge for the Russian judicial system. Naturally, state courts are hardly able to respond to rapid market changes, which is why commercial arbitration as an instrument for resolving cross-border disputes is gaining popularity.
"The parties to arbitration proceedings are increasingly trusting arbitration. Keeping in mind a dramatic rise in state fees for dispute resolution in state courts, arbitration now looks quite cost-ffective," says Anna Chepurnaya, a lead lawyer of TEAM.
Read Anna's extensive article with practical recommendations on choosing an arbitration institution and formulating arbitration clauses in contracts with Chinese counterparties in the Kommersant publication at the link Eastern clauses – Kommersant St. Petersburg.
"The parties to arbitration proceedings are increasingly trusting arbitration. Keeping in mind a dramatic rise in state fees for dispute resolution in state courts, arbitration now looks quite cost-ffective," says Anna Chepurnaya, a lead lawyer of TEAM.
Read Anna's extensive article with practical recommendations on choosing an arbitration institution and formulating arbitration clauses in contracts with Chinese counterparties in the Kommersant publication at the link Eastern clauses – Kommersant St. Petersburg.