Court of arbitration
The standing court of arbitration has been established and registered at the Association "Gazovyye Treidery Ukrainy" pursuant to the Act of Ukraine "On Courts of Arbitration".
Legal proceedings in the court of arbitration are more informal, quicker and more coordinated than the analogous proceedings on economic matters in civil courts. Arbiters possess excellent expertise in dealing with the controversies related to contracts on gas supply, allowing for a very prompt and effective settlement of any disagreement between the parties, such as renewal of mutually profitable cooperation between suppliers and consumers.
The amount of overheads related with legal proceedings in the court of arbitration is far smaller than the official duty paid for a legal action in the economic court. Apart from this, the amount of the arbitration fee is included in the production costs of an enterprise pursuant to the Act of Ukraine "On Taxation of Enterprises' Profit", and deduced from the loser party after the verdict is passed.
The court of arbitration is highly honored and appreciated by most of the Association members.