Unpaid costs in international arbitration are relatively common. Most rules of arbitral institutions provide that the parties must bear the costs of arbitration in equal shares. Difficulties may arise when one of the parties, usually the respondent, refuses to pay its share of advances on costs to cover the expenses related to the arbitration, including […]
VIAC Arbitration
Vienna International Arbitral Center (VIAC)
The Vienna International Arbitral Center (the “VIAC”) has continued to develop and reaffirm its position as a leading arbitration institution in Europe, and namely in the region of Central and Eastern Europe, with more than 1,600 proceedings administered since its establishment in 1975 under the auspices of the Austrian Federal Economic Chamber.[1] Today, the VIAC […]
VIAC Arbitration Rules
The VIAC Rules of Arbitration (“VIAC Arbitration Rules”), which may be downloaded below, are applied in arbitral proceedings when Parties have agreed to VIAC arbitration to resolve their dispute. It has become a practice of Southeastern European States, especially ones on the territory of the former Yugoslavia, to choose the VIAC as their designated arbitration […]
