Arbitration in Germany: SchiedsVZ Journal SchiedsVZ Journal Promotes Arbitration in Germany

Extract

Business disputes, especially those with an international context, are often decided by an arbitral tribunal. As of January 1, 1998, the Federal Republic of Germany has adopted the UNCITRAL Model Law for domestic and international arbitrations taking place in Germany. Consequently, German parties have increasingly chosen arbitration as a means of dispute resolution. Moreover, international parties are also discovering Germany as a suitable place for arbitration. The reason for this trend is not only the acceptance of the well-known and arbitration-friendly Model Law. Germany as the designated place of arbitration compares favourably with its international competitors given its very efficient court system that willingly supports arbitral tribunals, if required. Furthermore, a large number of polyglot German lawyers who are well-versed in the laws of foreign jurisdictions are qualified to conduct arbitral proceedings at a high standard for – compared to their Anglo-Saxon competitors – a relatively low price.