Trade Disputes in Norway
- Arbitration is recognized under Norwegian law as a legitimate method for settling disputes. The Norwegian Arbitration Act is based on the international standard.
- Arbitration Law
- Can be found here ( in Norwegian).
- Conformity to International Commercial Arbitration Rules
Party to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
- Appointment of Arbitrators
- Unless the parties otherwise agree, the Arbitral Tribunal will consist of three arbitrators.
- Arbitration Procedure
- The parties are required to exchange a claim and reply. Supplementation of claims is possible in the later stages, unless the Tribunal decides otherwise. Normally all claims and points of dispute will be settled in the final award. The Arbitral Tribunal may decide to settle separate claims in separate awards. The parties are free to settle at any stage of the proceedings, and present such settlement for confirmation to the Tribunal. Awards should be in writing and signed by all members of the Tribunal. Ordinary courts cannot take a second look at the issues resolved.
- Permanent Arbitration Bodies
Arbitration and Dispute Resolution Institute of the Oslo Chamber of Commerce (Sectors Covered: General)
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