Arbitration Legislation In Ukraine

Recognizing the general rule that "everything always goes wrong at the worst possible moment," large multi-national companies often agree to resolve their disputes with each other in an international, and therefore presumably unbiased, arena.

In an effort to accommodate the business needs of such companies, the world's leading nations have entered into numerous bilateral and multilateral international arbitral agreements. Such agreements set the stage for implementing the accepted international arbitration rules and executing the resulting judgments on a local level.

Likewise, Ukraine has established a similar forum for resolving international commercial disputes at the Ukrainian Chamber of Commerce and Industry, the rules of which are based on the Law of Ukraine "On International Commercial Arbitration" which, in turn, is based on the UNCITRAL rules. Ukraine also adheres to many international agreements previously entered into by the former Soviet Union, including