Parties involved in international disputes would be able to choose the country and the court to hear the case
21 August 2023, Chisinau – The Cabinet of Ministers approved at today’s meeting the draft law on the accession of the Republic of Moldova to the Convention on Choice of Court Agreements concluded in The Hague on 30 June 2005.
The aim of this international instrument is to streamline commercial and economic legal relations at inter-state level. A “choice of court agreement” is an agreement concluded between two or more parties, usually economic operators, which designates one or more specific courts of their choice to settle disputes which may arise between them in connection with international commercial transactions.
The provisions of the Convention will provide greater legal certainty and predictability by creating an optional global dispute settlement mechanism as an alternative to the current arbitration system. Furthermore, this Convention promotes and supports investment and international trade by providing the necessary legal certainty for economic operators.
The Minister of Justice also noted that the contracting parties to this agreement will have the guarantee that only the courts designated by them will settle the case and that the judgment will be recognised and enforced abroad.
“The accession of the Republic of Moldova to this international instrument is an important bill, which will bring us even closer to the European community. It is a measure to strengthen cooperation in civil and commercial matters, which is currently included in the EU-Moldova Association Agenda for 2023-2027, as well as an action set out in the draft National Action Plan on the fulfilment of the criteria for accession of our country to the European Community, which derives from Chapter 24 – Justice, Freedom and Security”, said Veronica Mihailov-Moraru.
The draft law will be sent to Parliament for consideration. With the accession to the Convention on Choice of Court Agreements, amendments are to be made to the Code of Civil Procedure. To this end, the Ministry of Justice has initiated the preparation of a draft law to harmonise national legislation.
