entrust the solution to BKAM
Today, the Republic of Azerbaijan is an independent subject of international law. The Republic of Azerbaijan has signed large-scale agreements with world-renowned corporations, and work is underway on these agreements. At the same time, foreign companies representing different countries operate in Azerbaijan and cooperate with local businesses. It is impossible to imagine the economic life of Azerbaijan in modern times without integration into the world economy and cooperation with large companies.
Mutual cooperation of all types of business entities is regulated by commercial agreements concluded between them. As in other countries of the world, misunderstandings and disputes over commercial agreements on the basis of mutual cooperation of business entities operating in Azerbaijan lead to litigation.
In this case, which court should a foreign company or a local business entity cooperating with a foreign company apply to?
According to the legislation of the Republic of Azerbaijan, courts of general jurisdiction and specialized courts operate to administer justice in order to resolve disputes arising from civil law relations. General and specialized courts are an integral part of state power and their activities are regulated by the state. So far, among other cases, disputes arising from commercial relations are resolved by state courts.
At the same time, the legislation of the Republic of Azerbaijan (Constitution of the Republic of Azerbaijan, Law of the Republic of Azerbaijan "On International Arbitration", Law of the Republic of Azerbaijan "On Private International Law", Code of Civil Procedure, Law of the Republic of Azerbaijan "On Enforcement of Judgments", international acts etc. normative acts) regulate the establishment and operation of an arbitration institution as a means of out-of-court settlement of disputes.
In 2003, the International Commercial Arbitration Society initiated the establishment of an independent commercial arbitration institute for the first time in Azerbaijan. The initiative has been supported by a number of international organizations, in particular the United States Agency for International Development (USAID). International Commercial Arbitration Society established the Azerbaijan International Commercial Arbitration Court (ICAC) on November 11, 2003 with the close participation and assistance of well-known and experienced lawyers in Azerbaijan, experienced and reputable specialists in various fields.
Established on the basis of international experience and national legislation, BKAM is a permanent independent arbitration institution. The Regulations governing the activities, structure, as well as the court rules for the settlement of disputes, the Regulations on Arbitration Costs and Fees and other necessary documents have been adopted and approved.
Well-known people in the republic and internationally were elected to the membership of BKAM on a competitive basis, and the Presidium and Secretariat of BKAM were formed.
Adequate building, necessary equipment and technical means have been provided in Baku for the permanent operation of BKAM.
The Azerbaijan Arbitration and Mediation Center (AAMM), reorganized in 2008 under the auspices of the officially registered Center for Legal Reform Assistance Public Union, was formed on the basis of the International Commercial Arbitration Society, which has been operating since 2002. At present, BKAM is under the Azerbaijan Arbitration and Mediation Center. In addition, the Jury and the Baku Mediation and Reconciliation Service operate under the AAMM.
Azerbaijan International Commercial Arbitration Court has established effective business relations with similar institutions operating in different countries around the world. Germany, Sweden, Romania, the Arab Republic of Egypt, Malaysia, Australia, Austria, the United Arab Emirates, Italy, Ukraine and others, distinguished by their experience in the field of international arbitration. Mutual cooperation agreements have been concluded between the arbitration institutions of about 15 countries, including the ICRC (the 1st Special Issue of the ICRC provides detailed information on the ICRC's international relations).
Thus, there is a domestic legal framework for the operation of BKAM in Azerbaijan. On November 18, 1999, the Law of the Republic of Azerbaijan "On International Arbitration" was adopted. Articles 29, 74.2, 167.1.5, 183, 259.0.5, 261.0.6, 462-477 of the Code of Civil Procedure, which came into force on September 1, 2000, provide for arbitration (arbitration) of disputes, arbitration (arbitration) decisions. determines the rules of recognition and execution. The Law of the Republic of Azerbaijan “On Enforcement of Judgments” in force since December 27, 2001 also provides for arbitration decisions.