The Vienna International Arbitral Centre (VIAC) possesses more than 40 years of experience in international arbitration and conciliation. Due to the new Vienna Mediation Rules it may now administer not only arbitrations but also mediations and other ADR-proceedings where a neutral third person supports the parties in finding a solution for their dispute as well as combinations like Arb-Med(-Arb).
The new rules entered into force on 1 January 2016 and are applicable to all proceedings initiated after 31 December 2015. The rules have been drafted by national and international mediation experts thus ensuring an exceptional high standard and state of the art solutions.
The overriding principle when drafting the rules was party autonomy. The aim was to provide a functioning framework for parties and mediators alike, but all provisions may be altered by agreement provided their compatibility with the overall idea of the Vienna Mediation Rules is still pertained. As a further incentive for parties to use the new rules, VIAC administrative costs may be off-set in the later proceedings in case of subsequent mediation and arbitration proceedings between the same parties and concerning the same subject-matter in dispute.
With its new Mediation Rules, VIAC is convinced to foster its position as the leading international arbitration institution in Central and Eastern Europe.ASA Bulletin