Exchange Arbitration

Arbitration Commission

For consideration of disputes that may arise between the parties of the exchange transaction concluded at the exchange auctions of Belarusian Universal Commodity Exchange, the permanent arbitration body was created. The Arbitration Commission of Belarusian Universal Commodity Exchange OJSC performs its activity in accordance with the Law of the Republic of Belarus «On commodity exchanges» dated January 5, 2009.

The Arbitration Commission initiates proceedings on the statements of claim of the parties only in the case the exchange contracts contain the clauses on the transfer of the dispute for its settlement to the Arbitration Commission. So, the parties shall take the responsibility to carry out its decisions. When resolving the disputes arising from the exchange contracts, the Arbitration Commission shall not be bound by the economic procedural legislation of the Republic of Belarus.
In accordance with Article 30 of the Law, the procedure of disputes settlement by the Arbitration Commission is determined by the Regulations of the Arbitration Commission.

In accordance with the Law, the decision of the Arbitration Commission shall be final and binding for the parties. In the case of refusal to fulfill the decision of the Arbitration Commission voluntarily, its enforcement on the territory of the Republic of Belarus is carried out in accordance with the order established by the economic procedural legislation of the Republic of Belarus, and outside the territory of the Republic of Belarus - in accordance with the international law.

Participants of exchange auctions are entitled to appeal to the Arbitration Commission in order to protect their rights and interests that are violated or contended by others, in accordance with the order established by the Rules of the Arbitration Commission of Belarusian Universal Commodity Exchange OJSC. Appeal against the decision of the Arbitration Commission may be made according to the order and on the grounds provided by the economic procedural legislation for appealing against the decisions of the international arbitration courts (arbitral tribunals) on the territory of the Republic of Belarus.

The detailed information on the procedure of disputes settlement, rights and obligations of the parties is included in the Rules of the Arbitration Commission of Belarusian Universal Commodity Exchange OJSC. At the same time we hope that you will never need to use the services of the Arbitration Commission of the exchange.