Representatives of the German Arbitration Institution (DIS) visited the BCCI

The Chairman of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov held a meeting with representatives of the German Arbitration Institution (Deutsche Institution für Schiedsgerichtsbarkeit - DIS) - General Secretary Ramona Schardt and lawyer Ivan Petrov. The meeting was attended by Blagovest Punev, chairman and Silvi Chernev, honorary chairman of the Arbitration Court at the BCCI.

Simeonov introduced the guests to the activities and advantages of the Arbitration Court at the BCCI, which is the successor of the commercial arbitration established in the system of the BCCI at the end of the 19th century, in 1897. He noted that the Arbitration Court at the BCCI shortly after its foundation was established as one of the most influential arbitration adjudication institutions in the Republic of Bulgaria and, preserving traditions and applying the achievements of world experience, today the AC at the BCCI is a modern adjudication institution applying digital tools and solutions.

The representatives of the German arbitration were informed about the cases initiated over the years before the AC at the BCCI, as well as the total amount of the claims on them. Simeonov also noted the high level of digitization of the AC at the BCCI, highlighting the technological superiority of our court compared to other large arbitration institutions, which marks the AC at the BCCI the most preferred institution for dispute resolution.

Blagovest Punev and Silvi Chernev presented the main advantages of the AC at the BCCI as the most prestigious arbitration institution in Bulgaria, which also enjoys an international reputation. They noted the low percentage of arbitral awards overturned by the Supreme Court, stressing that this is due to the guaranteed high quality of dispute resolution determined by the authoritative composition of the arbitration panel.

For her part, Ramona Schardt presented the German Arbitration Institution, the largest arbitration institution in Germany, founded in 1992, with extensive experience in the application of arbitration and other forms of alternative dispute resolution.

The Chairman of the BCCI thanked the guests for the initiative shown for the meeting, noting its benefit for the development of relations between the two institutions and extended an invitation to DIS representatives to participate in future international events organized by the Court of Arbitration at the BCCI.