Riga District Arbitration Court was established and incorporated with the Ministry of Justice of the Republic of Latvia in 2002, in 2005 pursuant to requirements of laws and regulations it was entered into Register of Arbitration Courts of the Register of Enterprises of the Republic of Latvia by registration No. 40003760582 (certificate of incorporation No. T 000046).
It is a body established under private law procedure, operating on an independent basis and by virtue of agreement between the parties adjudicates in disputes relegated thereto. The Arbitration Court serves as an alternative to courts established by the state, since arbitration proceedings is more simple and expeditious comparing to adjective procedure in the state courts.
Examination of disputes in the Riga District Arbitration Court shall be performed in accordance with Regulations thereof, in compliance with the Law on Arbitration courts, Part D of Latvian Civil Law, under oral or written procedure. Proceedings shall take place in official language or in another language, when the parties have come to agreement thereon.
Adjudication of the Arbitration Court shall become effective on the day when it is adopted, no appeal can be lodged and no caveat can be filed against it.
Any dispute, disagreement or request arising from this agreement and concerning this agreement, its infringement, termination or invalidity, shall be settled in the Riga District Arbitration Court in accordance with its Arbitration Rules of this arbitration court by ___________ arbitrator in the __________ language.