New Rules Of Arbitration As Of 2012

New rules of arbitration (the "New Rules") of the Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of Romania (the "Court of Arbitration") were published on 23 January 2012.

Appointment of arbitrators

Under the New Rules, the Parties no longer enjoy the right to nominate arbitrators, this being under the sole control of the Appointing Authority organised within the Court of Arbitration. Previously the Parties were allowed to designate their arbitrators from a list published by the Court of Arbitration and only the chairperson, or, in case of a single arbitrator format in which the parties failed to agree on the identity of the arbitrator, the respective arbitrator, was nominated by the Appointing Authority.