Arbitration in Austria can be initiated either on the basis of rules developed by parties themselves or institutional rules. Those seeking to initiate arbitration in Austria can conclude arbitration agreements for any pecuniary claims that fall under the jurisdiction of Austrian courts. Agreements can be standalone or represent clauses in the main contracts. Disputes centering around contractual & non-contractual disagreements can be settled by way of arbitration, too. Please note that arbitration agreements can be added to statutes & last wills; another thing to be borne in mind is that they must be drafted in written form.
Settling international disputes through arbitration in Austria provides parties with a right to decide on the numerical composition of arbitration courts & procedure for appointing adjudicators. Should they fail to reach an agreement, the number of adjudicators will be set at three.
If there’s no agreement on the procedure, it will be defined by the Supreme Court (it will also be deemed an authority with a relevant jurisdiction). Adjudicators mustn’t conceal any information capable of calling into question their integrity & lack of bias.
Claims for interim measures filed by parties with state courts aren't incompatible with arbitration agreements. If debtors are based or permanently reside in the Republic of Austria or their assets are under the supervision of Austrian courts, interim measures can be issued by district courts before or during an arbitration Hence, Austria doesn’t necessarily have to be an arbitration site.
Reversal of an Award
Those looking to settle international disputes through arbitration in Austria should keep in mind that they can appeal any arbitral awards. Some of the main reasons for reversing awards include:
- missing arbitration agreements;
- violation of parties’ right to be heard;
- improper composition of tribunals;
- possibility of resuming a civil case;
- infringement of public order.
Claims can be filed within 90 days since the date a notification of a decision was sent. The authority to reverse awards is vested in the Supreme Court; however, disputes related to consumer & labor law lie beyond the range of its jurisdiction.
Arbitration decisions delivered domestically arte deemed final & binding for all participants. An ultimate authority to issue awards is vested in district courts located in regions where debtors are based or reside, or in regions where they hold their assets. Settling international commercial disputes in envisages enforcement awards rendered by foreign courts as per the AEA, EU legislation & NYC.
Being the most famous Austrian arbitration institution, VIAC has a jurisdiction that isn’t only limited to a specific geographic location. In particular, VIAC has recently participated in resolving disputes in which parties from North America, South America & Africa were involved.
Previously, VIAC was only able to resolve international commercial disputes in Austria. However, after amendments were made to its ADR rules, it can now handle domestic disputes as well. Another important change is a provision whereby arbitration tribunals can order that parties pay arbitration-related fees.
Seeking to resolve a dispute in Austria? Need advice on ADR regulation in Austria? Why not contact IQ Decision UK?