Problems are often unavoidable in economic relationships. Unfortunately, sometimes contract partners can no longer solve their problems on their own. In commercial disputes between contracting parties from different countries, state courts are not always the best solution because a judgement made in one country cannot be enforced abroad. This will be the case in particular if there is no agreement enabling recognition in other countries. In contrast to state court judgements, arbitration awards are enforceable practically worldwide.

The Austrian Federal Economic Chamber has responded to this need and has provided companies from Austria and abroad with one of the world’s most recognised international arbitration institutions since 1975: the VIAC (Vienna International Arbitral Centre).