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Arbitration Clause Recommended by the BCCI

In view of the provisions of art. 9 of the Civil Procedure Code (State Gazette No. 59/20.07.2007, effective 1.03.2008, amended and supplemented SG No. 50/30.05.2008, effective 1.03.2008; Judgement No. 3 of the Constitutional Court of the Republic of Bulgaria of 8.07.2008 – SG No. 63/15.07.2008; amended, SG No. 69/5.08.2008, SG No. 12/13.02.2009, effective 1.01.2010(*) – amended SG No. 32/28.04.2009, supplemented SG No. 19/13.03.2009, amended and supplemented SG No. 42/5.06.2009; amended Judgement No. 4 of the Constitutional Court of the Republic of Bulgaria of 16.06.2009 – SG No. 47/23.06.2009; SG No. 82/16.10.2009, amended and supplemented SG No. 13/16.02.2010), art. 1, para 2 and paragraph 3, para 1 of the Transitional and Final Provisions of the Law on International Commercial Arbitration, (State Gazette No. 60/5.08.1988, amended and supplemented SG No. 93/2.11.1993, amended SG No. 59/26.05.1998, amended and supplemented SG No. 38/17.04.2001, SG No. 46/7.05.2002, Judgement No. 9 of 24.10.2002 of the Constitutional Court of the Republic of Bulgaria– SG. No. 102/1.11.2002; amended SG No. 59/20.07.2007, effective 1.03.2008), the Statute of the Court of Arbitration at BCCI and the Rules of the Court of Arbitration at BCCI, the Bulgarian Chamber of Commerce and Industry hereby recommends to the juridical and physical persons to include the following arbitration clause in their commercial and civil contracts:

“All disputes, arising from this contract or related to it, including those arising from or concerning its interpretation, invalidity, performance or termination, as well as the disputes for filling gaps in this contract or its adaptation to newly established facts, shall be referred for resolution to the Court of Arbitration at the Bulgarian Chamber of Commerce and Industry in compliance with its Rules for Litigations, based on arbitration agreements”.

 Clarifications:

  1. Disputes on real estate rights or possession of immovables, alimony or labour relations rights are outside of the jurisdiction of the Court of Arbitration at BCCI.
  2. The recommended arbitration clause shall apply both to domestic and to international commercial and civil contracts. As far as international commercial contracts are concerned, it is advisable for the parties to such contracts to agree in the arbitration clause on the substantive law applicable.