Arbitration and Mediation
CIEFD provides services of independent mediation in resolving economic disputes between the parties in accordance with Russian legislation and regulations of Islamic law. When making judgments our mediators base upon fatwas, regulations and standards of organizations such as International Islamic Fiqh Academy of the Organization of Islamic Cooperation, Fiqh Academy of the League of Islamic Countries, Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
To carry out the mediation procedure it is necessary to conclude corresponding agreement in written form with the consent of all parties to the dispute. Also a condition of pre-trial settlement of conflicts through mediation can be specified in the contract initially, in this case CIEFD must be specified in the contract as a mediator.
Mediation clause or agreement on carrying out the mediation procedure should include:
- Information on the subject of the dispute, the parties' consent to the application of the mediation procedure.
- Information about individuals or organization that will carry out the procedure of mediation.
- General information on the procedure, terms of mediation, as well as an agreement on reimbursement by the parties that are related to carrying out the mediation.
The mediation procedure can be applied at any stage of the dispute settlement even if the dispute has already been submitted to the court. The main thing in this case is the parties' consent to the application of the settlement procedure. At the same time the parties' consent to the application of mediation procedure means their refusal to use other ways of settling the dispute for the time to be set by the mediation agreement. That is, as long as the parties do not come to a decision, as a general rule, they do not have the rights to apply to the court until expiration of that period.
To learn more about the status and characteristics of mediation in the Russian legislation, we suggest reading the federal law from 27.07.2010 N 193-Federal Act "On the alternative dispute settlement procedure involving mediator (mediation procedure)"
In order to start cooperation with CIEFD on mediation, the interested party should apply through our feedback form