Court of International Commercial Arbitration

The Court of International Commercial Arbitration is an independent, permanently functioning arbitral institution that carries out its functions in accordance with the Law of Ukraine on International Commercial Arbitration.

The Chamber of Commerce and Industry of Ukraine approves the Rules of the Court of International Commercial Arbitration, the schedule of arbitration fees, the rates of arbitrators' fees and other expenses of the Court, and assists the Court in other ways to discharge its duties.

Pursuant to an agreement of the parties, the following may be referred to the Court of International Commercial Arbitration:

• disputes resulting from contractual and other civil law relationships arising in the course of foreign trade and other forms of international economic relations, provided that the place of business of at least one of the parties is situated abroad; as well as
• disputes arising between enterprises with foreign investment, international associations and organizations established in the territory of Ukraine, disputes between their participants, as well as their disputes with other legal entities in Ukraine.

Foreign economic relationships, resulting in disputes that may be referred to the Court of International Commercial Arbitration include, in particular, any transactions for the sale/purchase (delivery) of goods, contracts of service and labor, exchange of goods and/or services, carriage of goods or passengers, commercial representation and agency, leasing, scientific-technical exchange, exchange of other results of intellectual activity, construction of industrial and other works, licensing operations, investment, financing, insurance, and joint ventures and other forms of industrial and business cooperation.

Maritime Arbitration Commission

The Maritime Arbitration Commission at the Ukrainian Chamber of Commerce and Industry permanently functioning arbitral institution that carries out its functioning in conformity with the Law of Ukraine On International Commercial Arbitration of 24 February 1994, the Statute on the Maritime Arbitration Commission at the UCCI and the Rules.

The Maritime Arbitration Commission shall settle disputes arising from contractual and other civil law relationships in the area of merchant shipping, irrespective of whether the parties to a relationship include both Ukrainian and foreign entities, or whether the parties are only Ukrainian entities or only foreign entities.

Fees

The fees for arbitration at the Court of International Commercial Arbitration and Maritime Arbitration Commission at the Chamber of Commerce and Industry of Ukraine shall be calculated depending on the amount of the claim according to the following schedule (in USD):

• • Up to 50,000 - 6% of the claim amount, but not less than 600;
• • 50 001 till 100 000 - 3,000 + 4% of the claim amount exceeding 50,000;
• • 100 001 till 200 000 - 5,000 + 3% of the claim amount exceeding 100000;
• • 200 001till 500 000 - 8,000 + 2% of the claim amount exceeding 200 000;
• • 500 001 till 1 000 000 - 14,000 + 1% of the claim amount exceeding 500 000;
• • 1,000,001 till 5,000,000 - 19,000 + 0.5% of the claim amount exceeding 1 000,000;
• • exceeding 5,000,001 - 39,000 + 0.3% of the claim amount exceeding 5,000,000.

Recommended clause

Parties of the contract wishing their disputes to be referred to the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce & Industry or Maritime Arbitration Commission are recommended to include at least the following arbitration clause into their contract:

"Any dispute arising out of the present contract or in connection with it is to be referred for consideration and final settlement to the International Commercial arbitration Court (or Maritime Arbitration Commission) at the Ukrainian Chamber of Commerce and Industry. The parties agree that as to the consideration and settlement of the dispute the Rules of the International Commercial arbitration Court (or Maritime Arbitration Commission) at the Ukrainian Chamber of Commerce and Industry shall apply."

The above is intended to provide a brief guide only. It is essential that appropriate professional advice is obtained. Our company will be glad to assist you in this respect. Please do not hesitate to contact us.