Conciliation procedure in the arbitration process

The article examines the current state of functioning of the institute of conciliation procedures in the arbitration process, its existing disadvantages and main advantages. The main purpose of conciliation procedures is revealed - saving procedural costs and preserving the resources of the judicial system, as well as the voluntary execution of court rulings and the existence of a mechanism for the enforcement of conciliation measures. In the scientific work, the author makes his proposals to improve the current legislation in order to modernize the judicial system and the comprehensive application of conciliation procedures in the arbitration process.