Arbitration in Austria - Challenge and Enforcement of Arbitral Awards

Domestic arbitration plays an important role in the Austrian business world. Swift decisions from experts selected by the parties in a dispute offer a convincing argument to opt out of the jurisdiction of state courts. The general confidentiality of the process has made it the dispute resolution mechanism of choice for shareholders and matters involving family businesses, including associations and sporting unions.

Since arbitration is designed to meet the needs of the modern business world, its goal is to provide a direct route to justice that avoids lengthy and expensive proceedings.

Therefore, decisions of arbitral panels are usually not appealable but are subject to a limited review by state courts. The reasons for setting aside an arbitration award are limited in scope and the enforcement of arbitration awards follows the same procedure as regular court judgments, making them equally forceful and binding as any other ruling rendered by state courts.

Konrad & Justich’s Arbitration Practice Group provides a complete range of domestic arbitration services. We are also well placed to provide our clients with advice and guidance in relation to domestic proceedings in other jurisdictions through our worldwide network of partner firms.