Considering settling a dispute in Switzerland? Then you should definitely keep in mind the latest amendments to the PILA Act passed by the Swiss Parliament early this year. Expected to enter into force in 2021, they are going to significantly change the dispute resolution landscape in Switzerland.
So, let’s have a closer look at the amended piece of legislation & see what changes the Swiss lawmakers have made to it.
Switzerland: Arbitration Regulation
While ensuring flexibility of dispute resolution through arbitration in Switzerland, PILA amendments clarify certain provisions regarding international arbitration. It’s worth noting that the main elements of the case law pertaining to international arbitration & established by Switzerland’s High Court shall now fall within the scope of PILA.
Let’s take a closer look at other major changes.
- Those intending to initiate arbitration proceedings in Switzerland will now be able to submit applications to Switzerland’s High Court in English in case of the cancellation or reviewing of arbitral awards;
- It is now possible to include arbitration clauses in unilateral legal documents, such as acts of trust, wills or charters;
- As far as conclusion of arbitration agreements in Switzerland is concerned, e-mail & other forms of modern communication can now be used to confirm the text of arbitration agreements;
- If there’s no agreement between the parties as to the selection of an arbitral institution, procedure for administering an arbitral tribunal in Switzerland or arbitrators, arbitrators, an arbitration venue in Switzerland & arbitral institutions shall now be chosen for them;
- It is now possible to have direct access to arbitration courts located outside Switzerland.
The amended PILA Act further enhances Switzerland's attractiveness as a venue for international arbitrations. If you still have questions regarding the topic of the article, you should definitely consider getting in touch with IQ Decision UK. In doing so, you’ll be able to sign up for an individual consultation on the initiation of arbitration proceedings in Switzerland and other European countries.