“The examination of commercial litigations in court usually takes a long time, while in court of arbitration this period can be considerably reduced. This is a very good solution for citizens, which is provided in democratic conditions”, declared today the president of Parliament, Mihai Ghimpu, during the international scientific-practical conference “Alternative forms of commercial litigations, issues and solutions”. According to Ghimpu, the International Commercial Arbitration offers the possibility to solve all litigations amicably, and provides a solution acceptable to both parties. In democratic countries, the International Commercial Court of Arbitration functions efficiently, that`s why we are planning to improve the specialized legislation, considers president of Parliament. International commercial arbitration is a means of final settlement of disputes arising in international trade. Arbitration procedure is simpler, quicker, less formal and more accessible to the parties, as compared to the procedural rules applied by state courts. Moldova, along with other over 100 countries, ratified the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, concluded in New-York in 1958. Moldova` s International Arbitration Court of the CCI was established in 1994 to manage commercial arbitration. The conference was organized by the Chamber of Commerce and Industry (CCI), in collaboration with International Commercial Arbitration Court of the CCI.