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Foreign Investors Council
47, Gospodar Jevremova Street, IV Floor, 11000 Belgrade, Serbia
Phone: +381 11 3281 958, 3281 965
e-mail: office@fic.org.rs

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Recent Activities

10. October 2019.

Special Presentation on Arbitration

On October 10, FIC members had the opportunity to hear about the advantages of the arbitration procedures in commercial disputes at a presentation organized exclusively for FIC members by the Belgrade Arbitration Center and Arbitration Association.

Main aspects of the arbitration procedure, including costs, length and type of disputes that can be resolved this way were presented by Djordje Novcic from FIC member Jankovic Popovic Mitic Law Office and Tijana Lalic from the Arbitration Association. After the presentation they also responded to questions of FIC members and invited them to try arbitration procedure for disputes in their companies in order to experience the difference between arbitration and court procedure. Tijana Lalic explained that Serbia has over 70 years of experience in arbitrations. Belgrade Arbitration Center was created in 2013 as the second arbitration institution in the country, with the other one being established within the Serbian Chamber of Commerce. Main advantage of the arbitration procedures is efficiency in terms of the length of the procedures, while the decision has the same legal force as the enforceable court decision. The typical procedure lasts about 6 months compared to the 4 to 10 years in court procedure that can include appeal procedures, it was outlined. Tijana Lalic explained that it is up to the involved parties to choose the arbitrators who have the expertise in the addressed areas. They can be professionals in certain industry, University professors, lawyers, engineers or other professionals depending on the nature of a dispute. She outlined that the procedure is private, meaning that the public is not informed that the dispute is ongoing. Tijana Lalic and Djordje Novcic explained that arbitration can be applied in various types of commercial disputes. They outlined that arbitration can’t be applied if the contract which is the object of the dispute envisages another dispute resolution policy, such as courts of a particular country. The consent of both parties is required for the procedure. Therefore, they explained that the best way to guarantee that the potential dispute would be resolved through arbitration is to introduce a clause in the contract clearly stating that disputes are to be resolved in arbitrary procedure and even to clearly determine the institution which would be in charge.

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