APPLICATION OF ALTERNATIVE METHODS OF INVESTMENT DISPUTE RESOLUTION IN THE REPUBLIC OF UZBEKISTAN

Abstract

Given the perceived benefits of alternative dispute resolution (ADR) processes, such as negotiation and mediation and their importance, it would seem that it is an appropriate option for an investment dispute to opt for. This paper will emphasize the fact that opting for ADR provides fast, cheap, effective, and flexible dispute resolution. However, it does not mean to ignore the fact that there is a possibility of risks associated with the use of these alternatives.
One of the main areas in which legal reforms need to be introduced in Uzbekistan is to achieve greater success in using alternative methods to quickly and efficiently resolve disputes that have arisen. In order to improve the system of protecting the rights and legitimate interests of individuals and legal entities, and expanding alternative options for resolving disputes, as well as dramatically increasing the role of the mediation institution, arbitration courts and international arbitration in optimizing the volume of work in courts, it is necessary to take drastic measures to apply alternative legal methods for resolving investment disputes.
In this article, the author examines the term and general classification of alternative methods of settling investment disputes; its formation and development in Uzbekistan; and also gives the expected results that can be achieved with more active use of alternative methods of settling disputes in the Republic of Uzbekistan.