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Auction House of the Riga Arbitration Court

 

In our activities, we more often face the wishes of the parties participating in the dispute resolution process to organize voluntary public extrajudicial auctions. In this connection, the founder of the Riga Arbitration Court (RAC) the Association of Alternative Dispute Resolution SAIVA created a separate structure – Auction House of the Riga Arbitration Court. On 13 June, 2014 general rules of conduct of this process were adopted.

 

 

Now we help the parties having a conflict decide their dispute faster. Every interested person may contact the Auction House of the RAC and through its intermediation organize a voluntary public extrajudicial auction.

 

 

The auction is a form of trading. This public sale of goods, securities, property, rights claims, trademarks, artwork and other objects based on pre-established rules. 

 

We have analyzed the different rules of auctions and made our universal rules (Regulations of voluntary non-judicial auction), which can be used to conduct voluntary public auctions to get the maximum price. Please note that these rules are not final. At the request of the applicant's voluntary auction, he has the right to make changes and install the final bidding process. 

 

 

There are mandatory and voluntary auctions. Mandatory auctions are conducted by court executives or administrators of non-payment enterprises in the law-established order. Voluntary auctions may be conducted by the parties themselves in order to obtain the most favorable price. Most often they are organized and conducted by organizations that specialize in this activity. 
 

 

The general principle of the auction is the adversarial principle between its participants – the buyers. An auction is a competitive sale, where the right to buy the auctioned goods is acquired by the participant who offered the highest price. This party is called the winner of the auction. For the auction being recognized, at least two parties are necessary.

 

Property or goods that are put up for auction are called the lot. The lot can be included as one unit - the picture, claims, trademark, mobile phone, etc., and the group of objects - the batch of coffee, several dozen mobile phones, etc. 

 

 

The founder of the Auction House of the RAC is a non-profit society “Association of Alternative Dispute Resolution " .Society is established for the promotion of alternative forms of dispute resolution - mediation and arbitration. The RAC actively develops and supports voluntary extra-judicial conciliation through these types of dispute resolution. 

 

Use the auction as one more method of dispute settlement! The RAC is at your service! yes