Competency of the Arbitration Court at the National Business and Law Association

 

The Arbitration Court at the National Business and Law Association, in view of the disputes taken by it for consideration, is a permanent arbitration institution f general competency, that is to say that it agrees to hear any kinds of arguments that have an arbitrable subject. Furthermore, the Arbitration Court at the National Business and Law Association considers not only disputes between the juridical and the physical entities, being members of the Association but also arguments irrespective of the parties. For that reason the Arbitration Court at the National Business and Law Association is an open arbitration institution and settles civil disputes, as well as disputes for filling omissions in contracts or their adjustment to newly arisen circumstances, notwithstanding with that whether the head office or the place of residence of the one or of both parties is in Republic of Bulgaria. According to the Law on International Trade Arbitration the Arbitration Court is not competent to consider non-property arguments and disputes regarding financial support, arguments for real rights or possession over real estates, as well as for rights regarding labor legal relations.