Alternative dispute resolution methods – arbitration
Arbitration is a consensual mechanism to resolve disputes by one or more private decision makers (arbitrators) selected by the parties pursuant to a mechanism agreed by them in an adjudicatory procedure, and resulting in a final and binding decision /arbitral award/ (Tony Andriotis, Emmanuel Jacomy, and Artis Straupenieks). It is one of the out-of-court alternative dispute resolution procedures in many countries, including Mongolia.
20.04.2023
On June 17th, 2022, the Great Khural of Mongolia officially approved the "Law on permits" ("the PL") and it has been enacted and became effective as of January 1st, 2023.
28.03.2023
Tremendous mineral reserves, agricultural endowments, and proximity to Asia’s vast markets make Mongolia an attractive destination for medium to long-term foreign direct investment (FDI). The Gross Domestic Product (GDP) in Mongolia is worth 10.4 billion US dollars as of September 2021 according to the national statistics of Mongolia.
22.02.2023
Bolormaa Volodya, Partner and Director of GRATA International Mongolia office has been received a medal of a Leading lawyer of Legal sector which is a government award and granted on basis of order NoA/50 dated 2023 of Minister of Justice and Home affair.
Medical advertising in Mongolia
Manufacturing, import, export, storage, sale, monitoring, distribution and use of medicine for human and veterinary use, including conventional medicine, bio preparations, diagnostics (hereinafter the “Medicine”), medical devices, and biologically active products are regulated by the Law of Mongolia on Medicines and Medical Devices. The Law also provides a few broad limitations on the advertising of medicines and biologically active products. In addition to this regulation, the Law of Mongolia on Advertisement governs advertising in health sector.
Issues of secured transactions and pledges of movable property
The International Finance Corporation of the World Bank Group, in cooperation with the Mongolian Bank Association, has been implementing a program to enhance the supply chain finance market, especially focusing on the increase of loans and financing secured by moveable assets. For Mongolia, the "Law on Pledge of Movable Property and Intangible Property" was enacted and has been in effect since 2015 becoming one of the most frequently discussed legal relations.
GRATA International held an online conference: Contemporary issues in the field of protection of IP objects
On November 23, 2022, an online conference on Contemporary issues in the field of protection of IP objects in GRATA International countries: Belarus, Kazakhstan, Mongolia, Russia, Uzbekistan was held.
Legal regulation on mergers and acquisitions in Mongolia
Mergers and Acquisitions refer to establishment of a new company by consolidation of companies (Merger), or uniting another company by purchasing it (Acquisition) through financial transactions between those companies
GRATA International held a webinar: Doing business in Mongolia
On November 10, 2022, a webinar was held on the issues of starting a business in Mongolia.
Legal regulation on obtaining workforce and specialists from abroad
As of the first quarter of 2022, 5463 citizens from 92 foreign countries are working under labor contracts in Mongolia. The number of foreigners working under labor contracts increased by 1,030 or 23.2 percent from the same period last year. 4,752 (87.0 percent) out of the foreign nationals employed under contract are men and 711 (13.0 percent) are women.
Partner
Ulaanbaatar, Mongolia