Shanidze and Nikoladze Law Group successfully completed another dispute, which was considered by the Georgian International Arbitration Center (GIAC). This time our law firm defended and represented the position of the plaintiff which was a company registered abroad. The subject matter of the dispute arose from the contract of sale, under which the defendant (seller) undertook the obligation to deliver the goods to the plaintiff (buyer). According to the fact that the defendant did not fulfill the obligation derived from the contract, the plaintiff filed a request for termination of the contract, return of the advance paid by the company, and imposition of a fine on the defendant. It should be noted that the sum of the plaintiff’s claims amounted to several hundred thousand US dollars.
The mentioned process in arbitration lasted for several months, and finally we got the desired result. The arbitration’s claim was fully satisfied by the arbitrators. Defendant was also charged with arbitration costs and legal costs.
Moreover, according to Article 39 of the Arbitration Rules established by the International Arbitration Center of Georgia (GIAC) (approved by the Board of the International Arbitration Center of Georgia on March 10 2017): “The arbitral award shall be binding on the parties. By submitting the dispute to arbitration under the Rules, the parties undertake to comply with the award without delay.” Therefore, the winning party is entitled to start the enforcement process after the recognition and execution of the arbitral award by the Court of Appeal of Georgia.
Shanidze and Nikoladze Law Group is always ready to provide you with the desired legal services and to protect your interests at the professional level in the relevant place and situation (court, arbitration, mediation etc.)