Arbitration

Handling a dispute in the general courts, including possible appeals, may take several years. If a faster resolution is required, the Arbitration Institute of the Finland Chamber of Commerce provides rules under which the arbitral tribunal must issue its final award within nine months (or within three months in the expedited procedure).

Many have learned — much like with a speeding ticket — that speed comes at a price. Proceedings in the general courts involve only a relatively small court fee. In arbitration, however, the parties — ultimately the losing party — must cover the arbitrator’s costs and fees. These fees are not arbitrary; they are determined by the Arbitration Institute based on established schedules. It is also worth remembering that the speed of arbitration reduces other litigation costs. When the confidentiality of arbitration is added to the equation, the balance often tilts in favour of arbitration.

We also assist our clients in arbitral proceedings. In addition, our experienced lawyers can serve as arbitrators themselves.