Arbitration according to the New Civil Procedure Code

Abstract: Considering that the role of arbitration has increased, especially between professionals, the New Civil Procedure Code adopted in Romania has amended the previous regulations in order to meet the requirements of the present economic reality. However, the major advantage of this procedure has not changed, an enforceable title being obtained extremely rapidly. Be it the recovery of debts or the acknowledgement of other rights, avoiding an uncertain legal situation, which may last for several years in the case of the regular procedure, represents a solid argument in favour of this alternative procedure – arbitration. Last but not least, the parties have the possibility of personally choosing an arbitrator for the settlement of the dispute, which ensure – to the detriment of the classic procedure – a better management of the case settlement by appointing specialists in this respect.