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A:
Arbitration law to speed up arbitrary proceedings
Belgrade,
10 May 2006
Serbian Minister of International Economic Relations Milan Parivodic said today that the Law on arbitration should accelerate arbitrary proceedings, which is very important for the economy.
At a Serbian parliament session, Parivodic stressed that apart from international arbitration, the law should also develop domestic arbitration. He recalled that foreign trade arbitration was introduced in Serbia in 1953.
In the case of an economic proceeding between two companies, international arbitration could not have been applied. Domestic arbitration must be introduced due to problems in the work of commercial courts, he explained.
The law specifies that once an arbitrary verdict is reached, it is definitive and final and as long as a property is undergoing a proceeding, it is blocked both for the plaintiff and defendant, said Parivodic.
He also presented the Law on special authorisations aimed at more efficient protection of intellectual property. The law is mostly concerned with inspectors who it authorises and orders to immediately seize goods that breach intellectual property rights.
Market, construction and financial inspectors are under obligation to protect these rights, said the Minister. Market inspectors deal with cases of illegal use of trademarks and construction inspectors with misuse of architectural projects.
According to Parivodic, inspectors are taught to recognise goods with improper trademarks, models and samples and those breaching copyrights, especially regarding computer programmes.
He stressed that the law is in line with international standards and envisages fines for offences in the economic sector of up to one million dinars.
In the case of an economic proceeding between two companies, international arbitration could not have been applied. Domestic arbitration must be introduced due to problems in the work of commercial courts, he explained.
The law specifies that once an arbitrary verdict is reached, it is definitive and final and as long as a property is undergoing a proceeding, it is blocked both for the plaintiff and defendant, said Parivodic.
He also presented the Law on special authorisations aimed at more efficient protection of intellectual property. The law is mostly concerned with inspectors who it authorises and orders to immediately seize goods that breach intellectual property rights.
Market, construction and financial inspectors are under obligation to protect these rights, said the Minister. Market inspectors deal with cases of illegal use of trademarks and construction inspectors with misuse of architectural projects.
According to Parivodic, inspectors are taught to recognise goods with improper trademarks, models and samples and those breaching copyrights, especially regarding computer programmes.
He stressed that the law is in line with international standards and envisages fines for offences in the economic sector of up to one million dinars.
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