Iceland

The Legal Framework for Arbitration

General Information

  • UNCITRAL Model-Law based: No.

  • Legal Provisions: Icelandic Act on Contractual Arbitration (Act No. 53/1989), in force since 1 January 1990. 

Arbitral Institutions

  • The Nordic Arbitration Centre of the Iceland Chamber of Commerce (NAC)

Multilateral Conventions

  • New York Convention: Yes (ratification/accession: 24 January 2002); reservations: none.

  • European Convention: No.

  • ICSID Convention: Yes (ratification/accession: 25 July 1966).

  • Energy Charter Treaty: Yes (ratification/accession: 7 July 2015).

 

Last updated February 2019