THE CONCEPT AND LEGAL SIGNIFICANCE OF AN ARBITRAL AWARD
Keywords:
arbitration court, competent court, arbitration proceedings, securing a claim, arbitration, mediation, normative legal act, law, codeAbstract
Arbitration courts, in our opinion, are one of the main institutions of civil society. A modern legal state cannot exist and function without a strong civil society. The experience of developed Western countries shows that citizens and entrepreneurs have a very positive attitude towards arbitration courts, since arbitration processes are designed to quickly and efficiently resolve disputes and other problems in civil and economic activities. Therefore, in the context of the further deepening of democratic reforms and the formation of civil society in our country, it is extremely necessary to widely develop the institution of arbitration. At the same time, it should be noted that today, in addition to competent courts, various problems arise when considering a number of cases of civil and economic disputes by arbitration courts. This article, based on an analysis of foreign experience, examines the issue of the concept and legal significance of an arbitration award. The interaction of the arbitration court with the competent (state) courts, its procedure and shortcomings in focusing on the execution of the decision of the people has also been studied. In accordance with this, the author’s definition of the concept of resolution will be developed, as well as proposals and recommendations for our national legislation regarding the application of the mediation procedure.
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