Advantage Austria Show navigation

The services of the Vienna International Arbitral Centre of the Austrian Federal Chamber (VIAC)

24 August 2017

A large number of contracts are concluded every year between Australia and international companies and most of them are performed smoothly. However, in case of a dispute, there are a number of legal issues to consider, particularly in international transactions. It is highly relevant to consider the dispute resolution mechanism and the competent courts as they influence the length and costs of the proceedings and - particularly in an international setting (outside the EU) - the enforceability of a rendered decision.

Many questions – one solution: as an alternative to state court proceedings, arbitration in a neutral forum has numerous advantages for the parties. For example, according to the New York Convention of 1958 an arbitral award is recognized in most countries and can thus be easily enforced internationally.

Arbitration in a neutral forum is the only alternative to court proceedings before state courts. Since 40 years the Vienna International Arbitral Centre (VIAC) administers international arbitrations to the full satisfaction of parties and arbitrators. VIAC is the premier international arbitration institution in Central and Eastern Europe and is ranked among the top 20 leading arbitral institutions worldwide. As a special service, its arbitration rules and website are available in many languages

VIAC has adopted flexible, new and modern rules (Vienna Rules 2013) complying with international standards, taking into account the UNCITRAL arbitration rules. This means that arbitration proceedings can be tailor-made to the specific needs of the parties and always meet highest quality criteria. Parties may choose their arbitrators and the VIAC Board has access to a large pool of arbitration-experts, who may be appointed in case the parties fail to do so. 

VIAC is also well-known for its individual customer-service and for assisting in drafting arbitration clauses as well as in the interpretation of the Vienna Rules and for providing general assistance in the organization of the proceedings and the hearings.

VIAC is located in a neutral country with an arbitration-friendly legal system based on the UNCITRAL Model Law with the Supreme Court acting as first and only instance in setting aside proceedings. In addition, Vienna has excellent infrastructure and the highest living standard, which offers an ideal setting for an international arbitration. 

The Vienna Mediation Rules entered into force in the beginning of 2016. Thus, VIAC now is able to offer other forms of alternative dispute resolution, allowing also (Arb-)Med-Arb proceedings. The latest amendment of the Chamber of Commerce Act, which entered into force on 20 June 2017, offers Austrian parties the possibility to agree on VIAC also for purely domestic disputes. Until now, domestic disputes were solely administered by the arbitration institutions of the regional economic chambers.

If you have any further questions, VIAC’s Secretariat will be happy to provide you with any information required.

Vienna International Arbitral Centre of the Austrian Federal Economic Chamber
Dr. Alice Fremuth-Wolf (Deputy Secretary General)
Wiedner Hauptstrasse 63, A-1045 Vienna
T +43 (0)5 90 900 4397
F +43 (0)5 90 900 216
E office@viac.eu

Last modified
24 August 2017
print
©©ADVANTAGE AUSTRIA