|Institution||The most important body is the Arbitration Institute of the Stockholm Chamber of Commerce . It administers around 100 cases annually, 25% of which are national and international arbitrations on the basis of a Regulation drawn up by it, which entered into force on April 1, 1999.
|Recommended clause||“All disputes or claims arising from this contract, the breach, termination or invalidity thereof, will be settled definitively through arbitration in accordance with the Rules of the Arbitration Institute of the Stockholm Chamber of Commerce “.
|Language||In the absence of an express agreement from the parties on the language or languages in which the proceedings are to take place, the arbitral tribunal shall decide on this point after consultation with the parties.|
|Procedure||The Rules, in their latest version, contain several provisions guaranteeing the constitution of the Arbitration Tribunal and the proper conduct of the proceedings. Nevertheless, the parties remain free to derogate from it.
At the time of the presentation of the request, the plaintiff must briefly set out the details of the dispute and pay the file fees; if there are any irregularities, the Institute may also decide to interrupt the procedure.
The defendant, after communication by the Institute of the existence of an arbitration request which concerns him, sets out his arguments.
If there is no agreement between the parties on the subject, the Institute is responsible for constituting the Arbitral Tribunal and deciding the place of arbitration.
The Institute also has significant powers concerning the composition of the Arbitral Tribunal, in particular to avoid the constraints linked to multiparty arbitration and the blockages due to the need to replace an arbitrator. Once constituted, the Arbitral Tribunal determines the conduct of the proceedings on the basis of the content of the arbitral agreement, the Rules and the requirements of the parties.
At this time, the parties specify their claims.
The Arbitral Tribunal, when there is no prejudice for another party or in relation to other circumstances, may also accept modifications of claims during the course of the proceedings.
He resolves the dispute on the basis of the law or rules of law chosen by the parties. In the absence of such a choice, he is supposed to apply the law or the rules of law that he considers the most appropriate.
On the initiative of one of the parties, the Arbitral Tribunal may, during the course of the proceedings, take any emergency measure in order to ensure the future execution of the award.
The arbitrator must render the award within six months of accepting the case. At the request of the parties, the Arbitral Tribunal may also register their agreement on the form of an arbitration award.
|Duration||The average length of arbitral proceedings was 211 days in 1998; but it must be taken into account that, until April 1, 1999, the arbitrator had 12 months to render his award. Thus, it is highly probable that the average duration of arbitrations in 1999 will be decreasing.|
|Costs||The registration fee is 1,000 Euros.
For a dispute of 100,000 Euros, the fees paid to the President of the Arbitration Tribunal (in the case of a single arbitrator) are between 4,000 and 8,500 Euros, knowing that in the event of a plurality of arbitrators, each co-arbitrator is entitled at 60% of the fees paid to the President of the Arbitration Tribunal.
The administrative costs are 3,000 Euros.
When the dispute is decided by a single arbitrator, the total cost is between 8,000 and 12,500 Euros.