Switzerland: The Swiss Rules of International Arbitration

As of January 1, 2004, the Swiss Rules of International Arbitration (the "Swiss Rules") entered into force. The Swiss Rules replace the arbitration rules issued by the Chambers of Commerce of Basle, Berne, Geneva, Ticino, Vaud and Zurich for international arbitration. The Swiss Rules are based on the UNCITRAL Arbitration Rules with certain improvements and adjustments to suit institutional arbitration.

The Swiss Rules apply to arbitration commenced after January 1, 2004, provided that the arbitration agreement refers to the Swiss Rules or to the rules of one of the six above Chambers of Commerce (unless the parties agree specifically to apply the pre-existing rules of the Chamber of Commerce).

The Swiss Rules are administered by the Arbitration Committee consisting of 31 members. There are however six secretariats, one in each of the six Chambers of Commerce mentioned above. Accordingly, a notice of arbitration may be submitted to any of these six secretariats, preferably the one corresponding to the seat of arbitration mentioned in the arbitration clause.

A new feature as compared to the UNCITRAL Arbitration Rules is the provision for an expedited procedure. Any arbitration where the amount in dispute is below CHF 1,000,000 will in principle be conducted under the expedited procedure and by a sole arbitrator.

The arbitration fees are determined by the arbitral tribunal within the limits of a schedule based on the amount in dispute. The arbitral tribunal must further consult the Arbitration Committee on any decision as to the assessment and payment of costs.

The Swiss Rules can be found in seven languages on the website www.swissarbitration.ch.