Difficult times constitute an increase in the incidence of dispute (roughly 35%+ in 2009). Everyone attempts to ensure and impose the full extent of their rights. Often, however, the root of dispute is before the contract gets signed - in the negotiations - or in the first implementation of said contract.
Internationally, in the context of differing mentalities, languages, legal culture, and particularly trust, the settlement of disputes through arbitration is ideal. The ICC Court of Arbitration is the oldest, largest, and most renowned arbitration institution worldwide and has resolved over 18,000 cases in the value of billions.
ICC Austria is on your side in an ongoing dispute:
- precisely when the smooth running of your business relations is at risk, mediation should be used to gently resolve the issues at hand
- Were this method to prove unsuccessful within a period of 4-8 weeks, arbitration should be employed and to position yourself strategically within that
- The ICC also offers specialised alternatives in solving disputes through:
- Experts (whose findings can be either binding or non-binding depending on the parties’ choice)
- DOCDEX - in disputes over Letters of Credit or Bank Guarantees
- Incoterms - in disputes over the interpretation of an Incoterms clause
ICC Austria is also useful in the avoidance of disputes:
- How to embed long-term elements in contract negotiations
- How to live out a contract post-negotiation and reduce conflict matters
- The ‘ICC Dispute Boards’ - used in plant engineering and construction projects to clear up small differences in opinion in the spirit of preventing greater problems in the long-run
ICC Austria - International Chamber of Commerce
Wiedner Hauptstraße 57, 1040 Wien
Tel: +43-1-504 83 00