Arbitration, key to resolving economic issues between businesses

Prishtina, March 30, 2023 – In continuation of activities conducted within the framework of the Arbitration Week organized by the American Chamber of Commerce in Kosovo in cooperation with the USAID Commercial Justice Activity, a distinguished panel of the field discussed about arbitration and mediation as a service for businesses and an effective tool in resolving legal disputes.

Sokol Elmazaj, Partner at Boga & Associates, stated that despite the differences between arbitration and mediation, the decisions made from both these legal methods are final in terms of resolving disputes and aim to find the essence of the dispute between the parties. He also emphasized the importance of including the arbitration clause in contracts, saying that all economic issues and disputes that may arise between businesses can be resolved through the use of this clause and arbitration. According to him, this process is a more effective, faster, and financially affordable way for all businesses that need legal assistance.

Chris Thompson, Chief of Party, USAID Commercial Justice Activity, said that the program he leads consistently promotes arbitration and mediation as a tool for businesses to resolve disputes, also adding that it serves well for startup businesses. Thompson reiterated that the arbitration clause in a contract is a key point to solving legal issues between parties, and examples of it are available online, namely on AmCham’s website at the Arbitration Center category. Further, he underlined that an advantage of arbitration is that sessions can be held anywhere, and suit the parties.