Delos Guide To Arbitration Places (GAP)

IN-HOUSE AND CORPORATE COUNSEL SUMMARY

Romania has a history in commercial arbitration, including international arbitration: arbitration has been regulated in Romania since 1865 (under the old Civil Procedure Code and now under the new Civil Procedure Code, which entered into force on 15 February 2013). Romanian legal provisions applicable to domestic and international arbitration are compatible with the UNCITRAL Model Law as they are based on the same main principles, but without following the text of the Model Law. Due to the modern legal framework, more and more investors and state entities are choosing arbitration to settle disputes in Romania. Below are some key aspects of Romanian arbitration law.