2016 | Septiembre 19
Austria has a long tradition of arbitration, with the oldest codified laws dating back some 250 years. Provisions on arbitration were also included in the first Austrian Code of Civil Procedure in 1895. Since then, there have been regular revisions of the arbitration law, thus ensuring a modern and arbitration-friendly legal environment.
Most notably, on July 1 2006 a comprehensive revision of Austrian arbitration law came into force. It is based on the United Nations Commission on International Trade Law (UNCITRAL) Model Law and governs all arbitrations seated in Austria that have been initiated on or after the date of its entry into force. The law is set out in Sections 577 to 618 of the Code of Civil Procedure.