Nikolaus PitkowitzFrom: Choice of Venue in International Arbitration
Edited By: Michael Ostrove, Claudia Salomon, Bette Shifman
This chapter evaluates the merits of Vienna as a venue for international arbitration proceedings. It discusses the history and development of arbitration in Austria; the processes and rules involved as well as the role of courts in the conduct of arbitration proceedings; and rules for arbitral awards. It concludes that Austria is a United Nations Commission on International Trade Law (UNCITRAL) Model Law jurisdiction with a long and stable history of supporting arbitration. A wealth of decisions by the Austrian Supreme Court and a wealth of legal commentaries offer clear guidelines to the arbitration practitioner and only very few surprises. The Vienna Rules are one of the most streamlined of modern institutional arbitration rules that provide substantial flexibility for arbitral proceedings.