[et_pb_section fb_built=”1″ _builder_version=”4.27.0″ _module_preset=”default” background_color=”rgba(11,11,11,0.29)” background_image=”https:\/\/www.viac.eu\/wp-content\/uploads\/2024\/04\/AdobeStock_119050777-scaled.jpeg” background_position=”top_left” background_horizontal_offset=”0%” background_vertical_offset=”67%” background_blend=”darken” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_row _builder_version=”4.27.0″ _module_preset=”default” background_color=”#ffffff” max_width=”935px” module_alignment=”left” custom_margin=”280px||||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.24.3″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_font_size=”18px” header_font=”|700|||||||” header_text_align=”left” header_text_color=”#0B0B0B” header_font_size=”60px” custom_padding=”|80px||80px|false|false” global_colors_info=”{}”]<\/p>\n
Investment arbitration proceedings under the Vienna Investment Rules 2021 are clearly structured and efficient. The processes are designed to ensure fair, transparent and expeditious proceedings. Here is a step-by-step overview of a typical VIAC investment arbitration proceeding: <\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Investment arbitration agreement” image=”https:\/\/www.viac.eu\/wp-content\/uploads\/2025\/02\/1-2.png” _builder_version=”4.27.4″ _module_preset=”default” body_font_size=”18px” global_colors_info=”{}”]<\/p>\n
Investment Arbitration Clause
The cornerstone of any investment arbitration under the Vienna Investment Rules 2021 is an arbitration agreement and a reference to the legal instrument in which the parties agree to resolve their disputes under the Vienna Investment Rules.<\/p>\n
[\/et_pb_blurb][et_pb_button button_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjI0OTgifX0=@” url_new_window=”on” button_text=”Model Investment Clauses” button_alignment=”center” _builder_version=”4.27.4″ _dynamic_attributes=”button_url” _module_preset=”default” custom_button=”on” button_text_size=”14px” button_text_color=”#4D4D4D” button_border_radius=”0px” button_font=”||||on|||RGBA(255,255,255,0)|” button_icon=”=||divi||400″ button_on_hover=”off” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_button][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Submission of an Investment Arbitration Claim” image=”https:\/\/www.viac.eu\/wp-content\/uploads\/2025\/02\/2-2.png” _builder_version=”4.27.4″ _module_preset=”default” body_font_size=”18px” global_colors_info=”{}”]<\/p>\n
The arbitration process is officially initiated with the filing of an Investment Claim. The Statement of Claim must contain certain information, such as the names and addresses of the parties, a statement of the facts, a specific request and information on the arbitration agreement and the arbitrators (Art 7 Vienna Investment Rules 2021).<\/p>\n
[\/et_pb_blurb][et_pb_button button_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjI3OSJ9fQ==@” url_new_window=”on” button_text=”Filing an Investment Arbitration Claim” button_alignment=”center” _builder_version=”4.27.4″ _dynamic_attributes=”button_url” _module_preset=”default” custom_button=”on” button_text_size=”14px” button_text_color=”#4D4D4D” button_border_radius=”0px” button_font=”||||on|||RGBA(255,255,255,0)|” button_icon=”=||divi||400″ button_on_hover=”off” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Answer to the Statement of Claim” image=”https:\/\/www.viac.eu\/wp-content\/uploads\/2025\/02\/3-2.png” _builder_version=”4.27.4″ _module_preset=”default” body_font_size=”18px” global_colors_info=”{}”]<\/p>\n
After receipt of the registration fee, VIAC forwards the Statement of Claim to Respondent. Respondent then has the opportunity to submit an Answer to the Statement of Claim within a specified period (generally 60 days).<\/p>\n
[\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Constitution of the Arbitral Tribunal” image=”https:\/\/www.viac.eu\/wp-content\/uploads\/2025\/02\/4-2.png” _builder_version=”4.27.4″ _module_preset=”default” body_font_size=”18px” global_colors_info=”{}”]<\/p>\n
The arbitral tribunal is constituted in accordance with the criteria set out in the arbitration agreement or in accordance with the Vienna Investment Rules 2021. The arbitral tribunal can consist of a sole arbitrator or a panel of arbitrators consisting of three arbitrators.<\/p>\n
[\/et_pb_blurb][et_pb_button button_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjI1MiJ9fQ==@” url_new_window=”on” button_text=”Arbitration Search” button_alignment=”center” _builder_version=”4.27.4″ _dynamic_attributes=”button_url” _module_preset=”default” custom_button=”on” button_text_size=”14px” button_text_color=”#4D4D4D” button_border_radius=”0px” button_font=”||||on|||RGBA(255,255,255,0)|” button_icon=”=||divi||400″ button_on_hover=”off” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Calculation of the Advance on Costs” image=”https:\/\/www.viac.eu\/wp-content\/uploads\/2025\/02\/5-2.png” _builder_version=”4.27.4″ _module_preset=”default” body_font_size=”18px” global_colors_info=”{}”]<\/p>\n
Parties are requested to pay the anticipated costs of the proceedings, consisting of the administrative costs, arbitrators’ fees, VAT and costs for any cash expenses. The advance on costs generally needs to be paid within 30 days of receipt of the request. The cost calculator gives parties an overview of the estimated costs of the arbitration. The Secretary General will determine the advance on costs for the specific case after the proceedings have been initiated.<\/p>\n
[\/et_pb_blurb][et_pb_button button_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjI5OSJ9fQ==@” url_new_window=”on” button_text=”Cost Calculator” button_alignment=”center” _builder_version=”4.27.4″ _dynamic_attributes=”button_url” _module_preset=”default” custom_button=”on” button_text_size=”14px” button_text_color=”#4D4D4D” button_border_radius=”0px” button_font=”||||on|||RGBA(255,255,255,0)|” button_icon=”=||divi||400″ button_on_hover=”off” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_button][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Transfer of File” image=”https:\/\/www.viac.eu\/wp-content\/uploads\/2025\/02\/6-1.png” _builder_version=”4.27.4″ _module_preset=”default” body_font_size=”18px” global_colors_info=”{}”]<\/p>\n
As soon as the advance on costs has been paid in full and the arbitral tribunal has been constituted, the arbitration case is transferred to the arbitral tribunal. The course of the proceedings is then determined by the parties together with the arbitral tribunal.<\/p>\n
[\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Proceedings before the Arbitral Tribunal” image=”https:\/\/www.viac.eu\/wp-content\/uploads\/2025\/02\/7-1.png” _builder_version=”4.27.4″ _module_preset=”default” body_font_size=”18px” global_colors_info=”{}”]<\/p>\n
At the beginning of the proceedings, the arbitral tribunal usually schedules a case management conference with the parties and issues a procedural order (PO1) together with a procedural timetable. Arbitration proceedings can be conducted purely in writing, but usually an oral hearing is scheduled. The Vienna Rules allow for the use of modern technology to make hearings efficient and cost-effective, including the possibility of virtual hearings.<\/p>\n
[\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Arbitration Award” image=”https:\/\/www.viac.eu\/wp-content\/uploads\/2025\/02\/8-1.png” _builder_version=”4.27.4″ _module_preset=”default” body_font_size=”18px” global_colors_info=”{}”]<\/p>\n
Arbitrators are requested to render an arbitral award within six months after the oral hearing or after the last substantive submission in the proceedings. Arbitral awards are final and binding on the parties and can, if necessary, be declared enforceable before national courts.<\/p>\n
[\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” disabled_on=”on|on|on” disabled=”on” sticky_enabled=”0″][et_pb_column type=”4_4″ _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_cta title=”Overview of VIAC Investment Proceedings” _builder_version=”4.27.4″ _module_preset=”default” background_color=”#cc002b” global_colors_info=”{}”][\/et_pb_cta][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"
Investment Arbitration Proceedings Investment arbitration proceedings under the Vienna Investment Rules 2021 are clearly structured and efficient. The processes are designed to ensure fair, transparent and expeditious proceedings. Here is a step-by-step overview of a typical VIAC investment arbitration proceeding: Investment Arbitration ClauseThe cornerstone of any investment arbitration under the Vienna Investment Rules 2021 is an arbitration agreement and a reference to the legal instrument in which the parties agree to resolve their disputes under the Vienna Investment Rules.The arbitration process is officially initiated with the filing of an Investment Claim. The Statement of Claim must contain certain information, such as the names and addresses of the parties, a statement of the facts, a specific request and information on the arbitration agreement and the arbitrators (Art 7 Vienna Investment Rules 2021).After receipt of the registration fee, VIAC forwards the Statement of Claim to Respondent. Respondent then has the opportunity to submit an Answer to the Statement of Claim within a specified period (generally 60 days).The arbitral tribunal is constituted in accordance with the criteria set out in the arbitration agreement or in accordance with the Vienna Investment Rules 2021. The arbitral tribunal can consist of a sole arbitrator or a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":1332,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0,"footnotes":""},"class_list":["post-1104","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.viac.eu\/en\/wp-json\/wp\/v2\/pages\/1104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.viac.eu\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.viac.eu\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.viac.eu\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.viac.eu\/en\/wp-json\/wp\/v2\/comments?post=1104"}],"version-history":[{"count":21,"href":"https:\/\/www.viac.eu\/en\/wp-json\/wp\/v2\/pages\/1104\/revisions"}],"predecessor-version":[{"id":6284,"href":"https:\/\/www.viac.eu\/en\/wp-json\/wp\/v2\/pages\/1104\/revisions\/6284"}],"up":[{"embeddable":true,"href":"https:\/\/www.viac.eu\/en\/wp-json\/wp\/v2\/pages\/1332"}],"wp:attachment":[{"href":"https:\/\/www.viac.eu\/en\/wp-json\/wp\/v2\/media?parent=1104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}