MARKET VIEW – ARBITRATION
Why are so few awards rendered by the Swiss Chambers’ Arbitration Institution subject to challenge proceedings in the country’s courts? Rainer Füeg, the institution’s Executive Director, speaks to Lenz & Staehelin partner Martin Burkhardt
Martin Burkhardt, Lenz & Staehelin: With a growing number of arbitral institutions, why should a party use your institution?
Rainer Füeg, Swiss Chambers’ Arbitration Institution: Arbitration proceedings under the Swiss rules of international arbitration are efficient, reliable and cost-effective. They are administered in four languages: English, German, French and Italian. In arbitration proceedings where the amount in dispute does not exceed CHF1m, expedited procedures will apply; in such cases, the award shall be made within six months from the date on which the secretariat of the Institution submitted the file to the arbitral tribunal. More generally, the members of the institution and its arbitral tribunal are experienced international arbitration practitioners.