In an interpretative judgment rendered on 21 February 2024 (“Interpretative Judgment”), the highest court of Bulgaria had the occasion to decide whether, in case of an assignment of rights under a…
Being a Member State of the EU and a party to the New York Convention (NYC), the Republic of Bulgaria is an attractive destination to locate the seat of your arbitration proceedings. This is…
The assignment of contractual rights is a common business practice. An important question concerning the assignment of rights under a contract is the fate of the arbitration agreement related to…
Since the end of January 2017, a new law amending and supplementing the Code of Civil Procedure became effective (the “Law”). It also provides for amendments to the International Commercial…
The FIDIC forms of contracts (FIDIC forms) constitute a comprehensive set of rules applied worldwide in complicated construction projects. The FIDIC forms contain a multi-tier dispute resolution…
Background
Bulgarian arbitration law has been an area of rare developments. It is incorporated in the International Commercial Arbitration Act (“ICAA”), adopted in 1988 as almost a direct translation…
One of the main and well known advantages of arbitration is the speed of the proceedings. In order to enhance their timeliness and efficiency, the Rules of some arbitral institutions (e.g. Art. 33 of…
In November 2014, a new arbitration center was established in Bulgaria - the KRIB Court of Arbitration (KRIB - Confederation of Employers and Industrialists in Bulgaria). The establishment of this…
