FRAMEWORK PARTNERSHIP AGREEMENT concluded between the International Arbitration Court for Transport and TRANSARENA

THE INTERNATIONAL ARBITRATION COURT FOR TRANSPORT (IACT) and TRANSARENA (BULGARIA) concluded a FRAMEWORK PARTNERSHIP AGREEMENT regarding the support and promotion of disputes settlement by institutionalized specialized arbitration provided by IACT.

Bucharest, 10.02.2016.

President of the International Arbitration Court for Transport`s Board, Mr. Cristian ŞERBAN, and Honorary Chairman of TRANSARENA`s Board, Mr. Tomislav IVANCHEV, signed a framework partnership agreement today, at IACT`s headquarters from Bucharest. Both institutions will closely cooperate to support and promote the settlement of disputes arising out of the legal relationship in transport and related activities, by institutionalized arbitration.

"Signing of this agreement represents a turning point for International Arbitration Court for Transport`s evolution. Starting from today, the International Arbitration Network specialised in transport and related activities, initiated as an ambitious project, becomes a reality. The transport and logistics professionals from Romania, Bulgaria and soon enough from the whole Balkan region, will be able to use the arbitration provided by our institution for prompt and impartial settlement of disputes arising out of their legal relationships.

Development of the International Arbitration Network under the aegis of IACT will continue, not only towards West - where we are in advanced discussions with future partners from European countries having a rich arbitration tradition, but also towards East - Eurasian zone having a great economic development potential, very important for transport and other related activities. Cooperation with such prestigious partners like ARILOG and TRANSARENA grants us the certitude of a coherent expansion and sustainable development of the specialised arbitration at the national, regional and international level", declared the President of the International Arbitration Court for Transport`s Board.

Arbitration Court for Transport at the Romanian Association of International Road Transport is an independent body specialized on settlement of disputes in the area of transport and related activities (customs brokers` and freight forwarders` activities, storage and handling of goods, postal and courier services).

Providing an alternative specialized and private jurisdiction in more than 120 states - parties to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 10 June 1958), the Arbitration Court for Transport insures impartial and efficient resolution of disputes arising out of the legal relationship in transport and related activities, as well as other disputes submitted to the jurisdiction of the arbitration.