Examination of a case in simplified arbitration procedure allows the parties to resolve a lot of commercial disputes faster and more efficiently. It is worth mentioning that in simplified arbitration proceedings a case is brought before one arbitrator appointed by the chairperson of Lithuanian Court of Arbitration from the list of recommended arbitrators. This saves time, which in the common procedure would be spent for arbitrator reconciliation between the parties. In addition, registration and administration fees are lower in case of simplified arbitration procedure.
Disputes arising from monetary claims, moveable things or securities can be examined in simplified arbitration procedure.
In order to assist the parties to avoid additional costs of legal advice, examination of a case in simplified arbitration is carried out by using the unified simple forms of procedural documents, which can be found here:
- Form for Application for simplified arbitration
- Form for Objection to examination of a case in simplified arbitration
Simplified arbitration procedure is also less complicated for the hearing arbitrator; the unified form of documents presented to them after their appointment facilitates their work.