Development of Legal Regulation of Arbitration Proceedings

A basis of proceedings of arbitration and, consequently, tbe execution of awards consist in a transfer of considering and ruling over certain cases from the courts of law under which competence certain matter belong regularly, into the competence of arbitrators - natural persons - chosen ad hoc or special permanent arbitration courts. Thus, the proceedings before arbitrators is one of possible means of deciding cases between the parties to the proceedings. In the frame of the proceedings, certain subjective civil rights are provided with an authoritative protection guaranteed by a non-state body that can either be an arbitrator ad hoc or permanent courts of arbitration. The award is a result of activities effected by arbitrators and courts of arbitration. The award is endowed with the same effects as an effective verdict brought by the court of law, that is to say that the award can be executed by means of the state power of coercion. In regard of the fact that the state in the arbitration proceedings gives up a certain scope of its competence since it enables that certain legal matters are ruled over by arbitrators as natural persons chosen by the parties on the basis of their trust, instead of the courts of law, it is necessary to anchor that measure in a legal regulation. Therefore, in all matters which are, according to the private will of the parties, entrusted to be considered and brought a verdict upon by certain private persons, and, furthermore, in which matters that competence is taken off from the state courts of law, the proceedings of arbitration is in question.