Arbitration Court in Austria
Arbitration Court in AustriaUpdated on Tuesday 08th August 2017
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The Vienna International Arbitral Centre serves as the principal arbitration court in Austria. It was founded in 1975 and it is now one of Europe’s leading institutions for arbitration. The country has a reputation for being one of the most established commercial arbitration centers in the EU and it has had an important role as a neutral location for the resolution of these types of disputes.
Companies in Austria that want to settle disputes via arbitration can include a special clause in the agreements they conclude and can contact an arbitrator with the help of one of our lawyers in Austria.
The Vienna Arbitral Centre
The Vienna International Arbitral Centre hears cases from around the world and bases its judgments on the Austrian Arbitration Act, as included in the Austrian Code of Civil Procedure. Companies in all business sectors can use arbitration as a manner of settling their disputes. Examples include the following sectors: trade, finance, business services, share purchase, construction and many others.
Apart from the Vienna International Arbitral Centre, the International Chamber of Commerce also settles commercial disputes according to its arbitration rules.
The arbitral proceedings in Austria follow a set of provisions: the arbitrators are impartial and independent and an uneven number of arbitrators judge each case (in most cases one or in larger disputes, three). Each party has the right to fair and equal treatment and the Arbitral Court establishes what will and will not be considered evidence.
One of our attorneys in Austria can give you complete information on how to conclude an arbitration agreement as well as the conduct of the arbitral proceedings in Austria.
Reasons to consider settling disputes through arbitration
Arbitration is an alternative dispute resolution method commonly used by individuals or legal entities that do not wish to choose litigation. A panel of arbitrators submits the judgment and the final decision can be enforced in the same manner as a court judgment would be.
You can contact our law firm in Austria for complete information on how to handle commercial disputes and for an evaluation of your case. One of our specialists will be able to help you decide if arbitration is a preferred dispute resolution method.