Law on Arbitration revised

Politics
Amarsaikhan.B
en_amarsaikhan@montsame.mn
2017-01-26 14:46:21

Ulaanbaatar /MONTSAME/ The State Great Khural (Parliament) passed the new version of the Law on Arbitration on Thursday’s plenary meeting. The Law on Arbitartion was first adopted in 2003.

According to the cabinet’s presentation of the draft new wording, the former law had not met the standards set out by the United Nations Commission on the International Trade Law (UNCITRAL).

Minister of Justice and Domectic Affairs S.Byambatsogt noted that sophisticating the legal provisions for arbitrary relations will help protect and promote national companies and individuals, by facilitating them with adequate arbitrary services and lawyers. 

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