Georgian International Arbitration Centre is

First non-profit arbitration institution in Georgia, which is created based on the best international arbitration practice. GIAC represents most efficient dispute resolution institution in the entire Caucasus – Black Sea – Caspian Region. The GIAC Arbitration Rules reflect the needs of the parties combining recent developments in the field.

Workshop held by the GIAC: Business Dispute Resolution: The Reality and Perspectives

On July the 4th, at 10:00 am the hotel “Radisson Blu Iveria“ hosted a working session. The topic: business dispute resolution: the reality and perspectives. The event was attended by up to 80 representatives of business sector. Working session was opened by the President of the Georgian Chamber of Commerce and Industry, afterwards participants were addressed by the Minister of Justice of Georgia – Tea Tsulukiani and Economic Council – George Gakharia. As the Minister of Justice later told to the journalists, the country’s legislation is fully adapted to the development of arbitration and relevant law regulations were enacted 2 years ago. In the framework of the working session Tea Tsulukiani has been actively involved in the discussion and together with the participants, majority of which were representatives of business sector, discussed advantages of the arbitration.

In the form of an open dialogue the participants summed up problems related to business dispute resolution and reviewed the challenges of arbitration in Georgia. An information regarding the activites of the Georgian International Arbitration Center was presented by the General Secretary of the center – Beka Injia and he defined why the arbitration was considered to be an alternative to the court. In the framework of the event the advantages of the arbitration was outlined by the head of legal practice of Georgia of Ernst & Young – Giorgi Svanadze.

Georgian International Arbitration Centre was founded by the Georgian Chamber of Commerce and Industry in 2013. Idea arose from an international practice. Before establishment of the organization the issue wasprocessed by the representatives of the chamber and its partner organizations. Working group, which consisted of the governmental institutions and the third sector representatives, also played an important role in the process of setting up an arbitration center. Georgian International Arbitration Centre is fully independent from the Georgian Chamber of Commerce and Industry. The arbitration rules were elaborated by the commission consisted by the leading international experts.