Arbitration agreements in the foreign economic activity of russian companies

Abstract

The article assesses the potential risks associated with the problem of recognizing the arbitration clause as inconsistent or invalid. The main scientific research method used in this article is the comparative legal method, which makes it possible to most accurately determine the common and different features in the approaches of different jurisdictions. This article discusses the main conditions and essential circumstances requiring attention when working with contracts in the foreign economic activity in terms of validity of the arbitration agreements. In order to achieve the goal set in the article, we analyzed: the legislation of the Russian Federation on international commercial arbitration, the UNISTRAL rules, the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958), the international arbitration rules, the judicial practice related to the recognition and enforcement of arbitral awards. As a result of analysis, the article provides provisions aimed at increasing the efficiency of conclusion of such arbitration clauses in the foreign economic activity of Russian companies.