Arbitration Basics
The Vienna International Arbitral Centre (VIAC) of the Austrian Federal Economic Chamber (WKO) administers arbitration proceedings between businesses ensuring a fast and cost-effective dispute resolution at the highest international standard.
What is Arbitration?
Arbitration allows business disputes to be definitively resolved by independent arbitrators selected by the parties and in accordance with the parties’ agreement. Arbitration is an alternative to state courts and requires the agreement of the parties.
As an alternative to proceedings before state courts, arbitration offers businesses a number of advantages such as:
Predictable Costs
The arbitration costs can be calculated with the cost calculator.
Faster Proceedings
The average duration of proceedings is 12 months.
High Degree of Confidentiality
Proceedings do not take place in public.
Party Autonomy and Flexibility
The parties can shape the proceedings and choose arbitrators, language, seat, and applicable law.
The Requirements for VIAC Arbitration Proceedings
Such agreements can either be defined in advance in a contract or specified once the dispute has arisen.
Services Provided by VIAC in Arbitration Proceedings
VIAC supports parties with an array of different services:
– Providing a secure online platform for communication (VIAC Portal)
– Calculation and determination of costs
– Appointment and confirmation of arbitrators
– Maintenance of a copy of the case file
– Decisions on challenges of arbitrators and the consolidation of proceedings
– Transmission of documents such as the final award
– Support with the hearing organisation
– Award monitoring and “scrutiny light”
– Finalisation of the arbitral award
Austria offers an excellent framework for arbitration proceedings, with an arbitration-friendly court system and excellent arbitration practitioners who are very familiar with national and international practices.
Details of the Vienna Arbitration Rules 2021 can be found here.
Professional Support Established Through Years of Experience
VIAC offers businesses involved in disputes comprehensive support at the highest level: Due to its geographical location, the VIAC team based in Vienna has in-depth knowledge and a wealth of experience regarding the specifics of Austria’s neighbouring countries and Central and Eastern Europe and Southern Eastern Europe (CEE/SEE).
As a department of the Austrian Federal Economic Chamber, VIAC has access to extensive resources and the entire infrastructure of the WKÖ. However, VIAC remains independent and operates without direction from the WKÖ.
Model Arbitration Clauses
If parties wish to submit their dispute to arbitration under the Vienna Rules, they can conclude an arbitration clause based on the VIAC Model Arbitration Clauses. A standard model arbitration clause and several model arbitration clauses for specific issues are available.
Resources for Arbitrators
VIAC compiles resources for arbitrators to assist them in conducting proceedings under the Vienna Rules and to facilitate cooperation with the VIAC Secretariat.
Cost Calculator
The cost calculator is a tool to get an overview of the expected procedural costs for VIAC arbitration proceedings. The actual calculation of the Advance on Costs shall be made by the Secretary General after the proceedings have been initiated.
Arbitrator Search
VIAC offers arbitration practitioners the possibility to create a profile and present themselves. The arbitrators’ profiles are non-binding and do not constitute the institution’s recommendation. The parties and the VIAC Board are free to nominate and appoint arbitrators.
Arbitration Rules ("Vienna Rules")
A new version of the VIAC Arbitration and Mediation Rules came into force on January 1, 2025. They are applicable to all proceedings initiated or to be initiated after December 31, 2024.
