The following Arbitration practice note provides comprehensive and up to date legal information covering:
This Practice Note contains a jurisdiction-specific Q&A guide to arbitration in Romania published as part of the Lexology Getting the Deal Through series by Law Business Research (published: October 2020).
Authors: STOICA & Asociații—Cristiana-Irinel Stoica; Daniel Aragea; Irina-Andreea Micu; Alin-Gabriel Oprea
Romania is a jurisdiction that promotes domestic and international arbitration, and to this end it is a signatory party to the most important international instruments dealing with arbitration. In 1961, by Decree No. 186, Romania became a contracting state to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. As of the date of that adherence, a declaration was made by Romania specifying that the Convention applies only to contractual or non-contractual disputes that are deemed commercial by Romanian legislation, and that it shall apply to arbitral awards issued in non-contracting states based only on reciprocity established by the state parties' agreement.
Romania is also a state party to the European Convention on International Commercial Arbitration adopted by the United Nations
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