The Lithuanian Court of Arbitration is a permanent arbitration institution registered with the Register of Legal Entities on January 19, 2010. The competence of the institution is regulated by the Civil Code of the Republic of Lithuania, the Law on Commercial Arbitration of the Republic of Lithuania, and the Statute of Lithuanian Court of Arbitration. The main function of the Lithuanian Court of Arbitration is organizing and serving the arbitration process. In order to guarantee the jurisdiction of a certain case for the Lithuanian Court of Arbitration, parties to the contract have to conclude an arbitration agreement or arbitration clause, where namely Lithuanian Court of Arbitration is appointed as an institution to settle a dispute.
Moreover, the Lithuanian Court of Arbitration:
- performs a function of an appointing authority in cases, where parties agreed to divert claims to ad hoc
- organizes and maintains other alternative to litigation disputes settlement methods (mediation, conciliation, expertise, and so on).
- promotes of alternative dispute resolution processes in Lithuania and gathers together civil law scientists and practitioners, who are interested in national and international alternative dispute resolution processes and different techniques thereof.