Mongolian International and National Arbitration Center at the Mongolian National Chamber of Commerce and Industry (MINAC) - National Arbitration Institution Report - World Arbitration Reporter (WAR) - 2nd Edition

Author(s):

Fionna Gavin

Reema Shour

Page Count:

48 pages

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1 PDF Download

Published:

July, 2014

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I. BASIC INFORMATION

A. History and Background of the Institution

1. History of arbitration

The Mongolian International and National Arbitration Center

(MINAC) was founded on 2 July 1960 and forms part of the

Mongolian National Chamber of Commerce and Industry (MNCCI).

The first arbitration dispute was settled in Mongolia under the

MINAC in 1967. In 1995, the Foreign Trade Arbitration Law was

adopted by the Parliament of Mongolia. According to this law, the

Foreign Trade Arbitration Court at the MNCCI was tasked with

resolving disputes between Mongolian citizens, business entities and

foreign citizens and foreign entities arising from foreign trade

agreements; disputes between foreign investors and local partners;

and disputes between foreign business entities and recognized

institutional arbitration in Mongolia. On May 9, 2003 a new Law on

Arbitration1, which was based on the UNCITRAL Model law, was

adopted by Parliament, replacing the previous law (the Arbitration

Law 2003). Currently new arbitration law draft is producing by the

working group of Ministry of Justice.

2. Present trends in arbitration

a) General attitude

Mongolian courts have a tradition of supporting arbitration, and

arbitration has a long history in Mongolia. There is therefore a

strong arbitration culture amongst lawyers and judges, although

arbitration proceedings almost exclusively relate to domestic