Arbitration in Austria

Traditionally, Austria has served as the situs of arbitration for disputes between parties from Central and Eastern Europe. Today, with users from all over the world routinely agreeing to ad hoc and institutional arbitration in Austria, this traditional base has expanded.

Austrian arbitration benefits from:

- The UNCITRAL Model Law on International Commercial Arbitration, adopted in 2006.

- The International Arbitral Centre of the Austrian Federal Economic Chamber ("VIAC"), a renowned international arbitration institution.

- A legal framework that accommodates the parties' wishes (applicable law, language, arbitrators, etc.) without compromising essential procedural safeguards.

- The adherence to the UNCITRAL Model Law and the New York Convention 1958 on the Recognition and Enforcement of Foreign Arbitral Awards ("New York Convention"), which greatly assists enforcement and hinders judicial annulment.

- Ratification of the New York Convention without reservations.

- The availability of trained and experienced practitioners who routinely act as counsel or arbitrators in international arbitration, and who are capable of doing so in an array of languages.

- Austria's neutrality, its central location in the heart of Europe, convenient transport links, and excellent infrastructure.