Preferred Arbitration Rules
Rules Applied in Actual Arbitrations
Amongst the surveyed companies with an annual global turnover of more than 5 billion euros, nearly 50 per cent prefer SCC arbitrations. Respondents explained that neutrality, freedom to appoint an arbitrator, reputation of the rules and substantive rules of law applicable to the dispute are amongst the most important factors in selecting a certain set of arbitration rules.
The report also shows that 72 per cent of surveyed users prefer arbitration to resolve disputes. The reasons for this preference include expertise of a decision maker, non-public nature of the proceedings, speed of the process, enforceability of the award and no possibility to appeal the award.
The Roschier Disputes Index 2012 analyses the results of a market survey of the 192 largest Swedish and Finnish companies, assessed on turnover. The results are based on interviews with General Counsels, CEOs, CFOs and in-house counsel regarding the global practices of these companies.
The report was presented at the Roschier Arbitration Forum 2012 on “Arbitration Trends”, held at the Grand Hôtel in Stockholm on 28 May 2012. Annette Magnusson, Secretary General of the SCC, spoke at the forum on the SCC’s experience with arbitrator challenges and expounded on how the SCC Board makes decisions on such challenges. “These are some of the most important decisions the Board makes”, she explained.
In-house counsels from TeliaSonera, Statoil, Nokia and Securitas also presented dispute resolution trends and preferences of their companies, explaining that efficiency is always an important fact but that each contract has different dispute resolution needs. The forum concluded with a panel on external funding in international arbitrations, where panellists discussed and explained the growth of this trend, the risk factors third party funders assess and the different insurance options available to respondent parties.
Roschier Disputes Index 2012
Preferred Arbitration Rules (on the Roschier Disputes Index 2010)