Expertise
Arbitration in Austria – challenge and enforcement of arbitral awards
Domestic arbitration plays an important role in the Austrian business world. Access to swift decisions from experts selected by the parties involved offers a convincing argument to opt out of the jurisdiction of the national courts and to opt for binding arbitration by an arbitral tribunal. The confidentiality of the arbitration process has made it the dispute resolution mechanism of choice for shareholders and in matters involving family businesses, including associations and sports unions.
Arbitration is designed to meet the needs of the modern business world. Its goal is to provide a direct route to justice that avoids lengthy and expensive proceedings.
Therefore, decisions of arbitral panels are usually not subject to appeal but instead the national courts only have a limited scope for review.
Domestic arbitral awards – i.e. awards rendered in arbitration proceedings with the seat of arbitration in Austria (most often Vienna) – are directly enforceable in accordance with the Austrian Enforcement Act. The enforcement procedure for a domestic arbitral award is the same as for court judgments, making them equal in force and as binding as any ruling rendered by national courts.
We provide a complete range of dispute resolution services to our clients, including domestic and international arbitration, but also out of court settlement and adjudication process.
We support our clients from the outset of any legal matter and throughout the proceedings. This starts with weighing the benefits of arbitration against litigation or mediation, and evaluating whether arbitration will be the right fit for a possible dispute. If arbitration is a suitable option, we will assist in negotiating and drafting an arbitration clause that is in the interest of our clients. Once a dispute has arisen, we represent our clients in all stages of the proceedings, including the enforcement or setting aside of an arbitral award. The selection of the arbitrator is of utmost importance in any arbitration.
