Imagine you’ve reached an agreement with a debtor, signed the contract, and they stop paying again. What next? Back to court? The Riga Arbitration Court offers a new, more effective solution!
Effective October 31, 2025, a new Chapter VII was introduced into the Rules of the Riga Arbitration Court (RAC), allowing you to give your settlement agreement concluded outside of litigation the force of a full court decision. This is a simple, fast, and cost-effective solution for businesses, saving you time and money.
What is the main problem with a regular settlement agreement?
A standard agreement signed between the parties is just that—a contract. If one party fails to comply with it, you’ll have to start a new lawsuit from scratch to recover the debt. This means:
Loss of time:** months of waiting for a new decision.
Additional costs:** payment of new legal costs.
No guarantees:** the debtor may delay the process again.
New decision from RTS: Arbitration award by agreement
You can now come to the Riga Arbitration Court with an already signed settlement agreement and ask for it to be approved in the form of an arbitral award under the agreement.
Key advantage:
Your settlement agreement has the force of a final court decision. If the debtor violates its terms, you don’t need to go to court again. You can immediately apply to the state court for a writ of execution and refer the case to a bailiff for enforcement.
This turns an ordinary agreement into a powerful legal instrument that cannot simply be ignored.
How does it work? 3 easy steps
The process is as simple as possible so you can quickly and effectively protect your interests:
- **Prepare the documents:
Joint statement from both sides.
Signed settlement agreement.
The contract from which the dispute arose (with arbitration clause).
- **Submit an application to the RTS:
The parties file a joint application to the court.
The court verifies that the agreement does not contradict the law and is enforceable.
- **Get the solution:
The court sets a hearing (within 20 days) and approves your agreement.
You receive an arbitration award on the agreement, ready to be enforced if necessary.
Financial benefit: 50% discount
Understanding the importance of peaceful dispute resolution, the Riga Arbitration Court has established a special preferential tariff for this service.
The costs of approving a settlement agreement are 50% lower than the standard fee for arbitration proceedings.
Not only do you save on potential future litigation, but you also pay half as much now!
Who is this useful for?
This service is ideal for anyone who wants to:
Legally consolidate** agreements with partners.
Minimize the risks** of non-fulfillment of agreements.
Save time and money** on litigation.
Obtain guarantees** for the fulfillment of obligations by the debtor.
Don’t let your agreements remain just words on paper. Transform them into a reliable and enforceable legal document with the Riga Arbitration Court’s new service.
Have questions? Contact us for a free consultation!
Phone:** +371 67365100
E-mail:** info@court.lv
Website:** www.court.lv