The new Rules introduced – inter alia – the following new features:
- VIAC's competence has been redefined in Article 1 para 1 VR and Article 1 para 1 VMR to explicitly include investment proceedings as well as VIAC acting as Appointing or Administrating Authority" and unilaterally foreseen arbitration agreements.
- All new proceedings are administered by VIAC through our electronic case management system as of 1 January 2018 and the “VIAC Portal” for the secure exchange of case related documents has also been available to parties and arbitrators since 1 March 2021; the provisions on the submission of statement of claims and on the transmission of documents have been adapted accordingly (Articles 7, 12 and 36 VR and Articles 1 and 3 VMR).
- Third-party funding is now used in many proceedings. The definition in Article 6 para 1.9 and the provision in Article 13a VR are intended to create the framework for this instrument, especially to ensure the independence and impartiality of the arbitrators through appropriate disclosure.
- The Vienna Rules now explicitly state that oral hearings may be conducted in person or by other means (e.g. remote via videoconferencing technology - for further information see the "Vienna Protocol - A Practical Checklist for Remote Hearings); the arbitral tribunal shall decide on this, taking into account the views of the parties and the particular circumstances of the case (Article 30 para 1 VR). The same applies to mediation sessions (Article 9 para 3 VMR).
- Furthermore, it is now expressly stated that the arbitral tribunal is entitled at any time during the proceedings to assist the parties in their endeavours to reach a settlement (Article 28 para 3 VR).
- A further provision to increase the efficiency of the proceedings is contained in Article 32 para 2 VR, which now sets a time limit for the issuance of the award, i.e. the award shall be rendered no later than three months after the last hearing concerning matters to be decided in an award or the filing of the last authorized submission concerning such matters, whatever is the later. This time-period may be extended by the Secretary General upon reasoned request or on its own initiative.
- The arbitral tribunal may now, at any stage of the arbitral proceedings, at the request of a party, make a decision on costs pursuant to Article 44 paras 1.2 and 1.3 and order payment (Art 38 para 3 VR) and need not wait for the final award in this respect.
- In determining the advance on costs as well as the arbitrators‘ fees, the VIAC Secretary General has more flexibility to address the greater complexity, especially in multiparty proceedings (Articles 42 and 44 VR).
- The Schedule of Fees in Annex 3 has also been revised. While the registration fee and administrative fees for low amounts in dispute have remained the same, the administrative fees for amounts in dispute above EUR 100,000 as well as the arbitrators’ fees for amounts in dispute above EUR 200,000 have been increased to reflect the increased complexity in proceedings as well as the extended services of VIAC (HighQ file sharing platform, electronic case management database). VIAC nevertheless remains very attractive for parties in terms of costs when compared with other institutions, but ensures that arbitrators are remunerated fairly for demanding proceedings with high amounts in dispute.
- The following model clauses were added to the Arbitration and Mediation Clauses: Arb-Med-Arb-Clause, Mediation Clauses, Model Clause for VIAC as Appointing Authority and the Model Clause for VIAC as Administering Authority, and the Model Clause for Disputes Relating to Succession.
- The new Annexes 4 and 5 contain detailed rules for cases in which VIAC is requested to act as appointing or administering authority.
- Annex 6 contains supplementary rules for inheritance disputes, which take into account the special features of arbitration proceedings foreseen in a disposition of property upon death.