OMP Events
Webinar
Implementation of
arbitral awards of
GAFTA
in Ukraine and
other jurisdictions:
practical aspects
ZOOM
ZOOM
The Grain and Feed Trade Associations,
is known as GAFTA,
celebrates its 150-year anniversary on
November 17, 2021
Ladies and Gentlemen!
GAFTA’s standard trade contracts are used by more than 80% of the world’s grain traders, and these forms of contracts are equally popular with GAFTA members and non-members because of their stability, ease of use, common system of standards and principles for buying and selling raw materials, as well as clear and predictable system for resolving disputes through arbitration.
GAFTA arbitration is a fast, efficient and relatively inexpensive method of resolving disputes between the parties to a contract. The arbitrators who make decisions in such arbitrations are experienced specialists in the agricultural field, and therefore understand the specifics of international trade in cereals.
As with all international arbitration, one of the most attractive features of GAFTA arbitration is the enforcement of arbitral awards, which is not limited to the jurisdiction of a particular state court but is enforceable in all signatory states to the 1958 New York Convention on the Recognition of Foreign Arbitral Awards, the amount of which is 167 for now.
The implementation of GAFTA arbitration awards is a relatively simple process, but has its own specifics, which we will discuss at the webinar:
Implementation of arbitral awards of GAFTA
in Ukraine and in other jurisdictions: practical aspects
PROGRAM
The GAFTA Arbitral Tribunal makes a decision - what's next?
1. the possibility of appeal
2. time frame
3. the necessary formalities4. the issue of costs5. the possibility of appeal in court
The final and binding arbitral award has finally been obtained - what's next?
1. factors influencing the implementation strategy (jurisdiction, financial condition of the parties, commercial component)
2. enforcement mechanisms and features of different jurisdictions (England, Ukraine)
How to deal with an unscrupulous party that blocks the implementation of the decision?
1. The rule of "GAFTA violators" ("black list") - how effective is it in practice?
2. Strategies for slowing down the implementation of the GAFTA arbitration award - how effective are they?
3. when may failure to comply with the arbitral award result in imprisonment: Ifaco Feed v Sodinaf and Anor [2021]
Prepare a sleigh in the summer, or how to optimize the chances of successful implementation of the GAFTA arbitration award
1. forms of ensuring the implementation of the decision
2. attention to detail (strict compliance with all procedural formalities)
