| Abstract [eng] |
For each subject of business relationship is important to know the subject of the arbitration agreement validity / invalidity factors and the regulatory environment of the arbitration agreement and the arbitration process enshrined in the national law. Taking into consideration the active debates of national legal community on the proposals for the Republic of Lithuania Commercial Arbitration Law submitted to the Lithuanian Parliament, the purpose of this work is to analyze and determine the regulation stipulated in the Republic of Lithuania Law on Commercial Arbitration including the arbitration agreement form and content requirements and the regulatory and practical application in the legal practice of the Republic of Lithuania compared to the foreign legal practice containing deep traditions of the arbitration proceedings within them. This research is intended to assess whether current regulatory determined in the Republic of Lithuania Law on Commercial Arbitration correspond with actual local and international business relations and foreign modern regulatory framework regarding arbitration agreement application. The main research objects of this work are major legal backgrounds of the arbitration agreement invalidity which are stipulated in the Republic of Lithuania Law on Commercial Arbitration. However the definition of the research object is exclusively related to the evaluation of substantive law only and because of this the procedural matters of arbitration agreement invalidity will not be analyzed. |
