ARBITRAŽA KAO ALTERNATIVNI NAČIN RJEŠAVANJA SPOROVA U BOSNI I HERCEGOVINI
ARBITRATION AS AN ALTERNATIVE WAY OF RESOLVING DISPUTES IN BOSNIA AND HERZEGOVINA

Summary/Abstract: The arbitration procedure is regulated as a special procedure within the Civil Procedure Law of the Federation of Bosnia and Herzegovina, Republika Srpska and Brčko District of BiH. In this paper, the authors deal with the advantages of arbitration, especially the neutrality of arbitrators, the flexibility and informality of the arbitration procedure, the expertise of arbitrators, the secrecy of the procedure, the speed of decision-making, the costs of the procedure, the easier recognition and enforcement of arbitration awards. Arbitration settlement of disputes is particularly important for trade, business, foreign investments and the economy as a whole. Special focus in the paper is on the possibilities of resolving commercial disputes that facilitate and enable the continuation of business cooperation of economic entities on the global market and the relationship to classic litigation and mediation. The authors emphasize the need to adopt the Law on Arbitration at the entity levels and at the level of the Brčko District of BiH in order to develop the application of alternative methods of dispute resolution.

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