Law and Practice
1. General
1.1 Prevalence of Arbitration
Austria has long been established as a European hub for
international arbitration and, in particular, Vienna as the capital
city is a preferred venue for arbitrations related to the SEE and
CEE regions. The legal community boasts a number of arbitration
specialists providing high-end counsel and arbitration services.
The Vienna International Arbitral Centre of the Federal Economic
Chamber (VIAC) provides excellent administration of international
arbitrations. In general, arbitration is increasingly becoming the
preferred method of resolving larger business disputes in
Austria.
1.2 Trends
The VIAC Rules of Arbitration and Mediation 2018 entered into
force on 1 January 2018. Part I of the VIAC Rules contains the VIAC
Rules of Arbitration (Vienna Rules). Under the revised Vienna
Rules, VIAC also administers purely domestic cases. Overall, the
revision of the Vienna Rules aims to ensure the efficient
