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The Arbitration Court at the Chamber of Economy of Montenegro (the ACCEMN) is an autonomous and independent institution before which domestic commercial disputes and disputes with an international element are resolved in accordance with the Arbitration Rules of the Arbitration Court at the Chamber of Economy of Montenegro and other rules and procedures agreed by the parties.
Apart from the Arbitration Rules of the Arbitration Court at the Chamber of Economy of Montenegro, the parties may agree that the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL) be applicable on conduct of dispute before the ACCEMN.
The ACCEMN conducts the proceedings so as to ensure a fair and efficient resolution of disputes and to avoid unnecessary delay and costs.
Legal framework
Law on Arbitration (Official Gazette of Montenegro 47/15)
Arbitration Rules of the Arbitration Court at the Chamber of Economy of Montenegro (adopted at the meeting of the Assembly of the Chamber of Economy of Montenegro held on 11 November 2015)
Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL)
Code of Ethics of Arbitrators (adopted at the meeting of the Presidency of the ACCEMN)
Law on Arbitration and the Arbitration Rules have been harmonized with the international rules, and in particular with the provisions of the UNCITRAL Model Law on International Commercial Arbitration.
Organization of the ACCEMN
The ACCEMN is composed of the Presidency and the Secretariat.
The Presidency consists of the President, Vice-President and five members.
The following are the members of the Presidency of the ACCEMN:
President: Vesko Božović, attorney-at-law from Podgorica
Vice-President: Stanko Zloković, Vice-President of the Chamber of Economy of Montenegro
Members: Nataša Sekulić, judge of the Commercial Court in Podgorica; Dragoljub Drašković, PhD, judge of the Constitutional Court of Montenegro; Nikola Martinović, attorney-at-law from Podgorica; Pavle D. Radovanović, Secretary General of the Chamber of Economy of Montenegro; Vuksan Vuksanović, Director of the Directorate of Legal Affairs in CrnogorskaKomercijalna Banka AD Podgorica
The Secretariat has a professional service to supervise the efficiency of the proceedings and the work of the arbitrators as well as to perform other tasks in accordance with the Arbitration Rules. The Secretariat is managed by the Secretary. Maja Golović Vojinović, LL.B., holds the position of the Secretary of the ACCEMN.
Arbitrators
The parties have the right to choose arbitrators. Any natural person having a capacity to contract may act as an arbitrator, regardless of his or her nationality.
At the ACCEMN there is a recommended list of arbitrators.
Advantages of arbitration
How to use recommended arbitration clause
The parties wishing to refer their dispute to the ACCEMN are obliged to include into their contract a recommended arbitration clause or to conclude a separate agreement.By inclusion of an arbitration clause in their contract or by concluding a separate agreement the parties agree that they will resolve their dispute in the arbitral proceedings before the ACCEMN and thus ensure fast, efficient and professional resolution of their dispute.
The parties should be precise when drafting the arbitration clause. It is important that the arbitration clause is defined in such a manner that it exhibits a clear and unambiguous agreement of the parties that any dispute that may arise will be finally settled by arbitration and that it will be submitted for arbitration at the ACCEMN.
Recommended clause
„Any dispute, controversy or claim arising out of or in connection with this contract, including the breach, termination or validity thereof, shall be finally settled by arbitration in Podgorica in accordance with the Arbitration Rules of the Arbitration Court at the Chamber of Economy of Montenegroby applying the substantive law of Montenegro and in the Montenegrin language''.
Chamber of Economy Montenegro
ul. Novaka Miloševa 29/II
Podgorica 81000
Montenegro
tel +382 20 23 05 45
fax +382 20 23 04 93
pkcg@pkcg.org
www.privrednakomora.me