Trade Disputes in Sweden
- Arbitration is a solution for settling disputes. An arbitrator is called in who has to make the final decision.
- Arbitration Law
- The Swedish Arbitration Act
- Conformity to International Commercial Arbitration Rules
Party to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
Party to the Geneva Protocol on Arbitration Clauses.
Party to the Geneva Convention of the Execution of Foreign Arbitral Awards.
- Appointment of Arbitrators
- A judicial arbitrator must be of legal age and be a professional judge of the legal system. One or several arbitrators may be appointed to settle a case. The arbitrator can use the jurisdiction of his choice. An arbitrator may be chosen by other arbitrators.
- Arbitration Procedure
The most important organization is the Arbitration Institute of the Chamber of Commerce of Stockholm. It deals with about 100 cases a year, about 25% of which are national and international arbitrations based on its own Regulations, which came into force on 1 April 1999.
When presenting his petition, the plaintiff must set out briefly the facts of the dispute and pay the case fees; if there are any irregularities, the Institute can decide to interrupt the procedure. The defendant, after the Institute has informed him of the existence of an arbitration petition concerning him, sets out his arguments. If there is no agreement between the parties on the subject, the Institute takes charge of setting up the Arbitration Tribunal and deciding where the arbitration will take place.
The average duration of an arbitration procedure was 211 days in 1998.
. Registration fees are 1 000 EUR. For a dispute of 100 000 EUR, the fees paid to the presiding judge of the Arbitration Tribunal (if there is just one arbitrator) are between 4 000 and 8 500 EUR; if there are several arbitrators, each co-arbitrator has a right to 60% of the fees paid to the presiding judge of the Arbitration Tribunal. Administrative costs are 3 000 EUR. When the dispute is settled by one single arbitrator, the total cost is between 8 000 and 12 500 EUR.
- Permanent Arbitration Bodies
Arbitration Institute of the Chamber of Commerce of Stockholm (Sectors Covered: All)
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