Jusletter

Switzerland, which holds an important position in international commercial arbitration, has made a decisive step forward in terms of Swiss-based institutional arbitration. The Chambers of Commerce and Industry of Basel, Berne, Geneva, Lausanne, Lugano and Zurich have, on January 1st, 2004, adopted uniform «Swiss Rules of International Arbitration» which replace the former diverse systems. The new Swiss Rules are based on the Uncitral Arbitration Rules, modified and adopted, where appropriate, in light of current international arbitration practice. They provide for a non-bureaucratic administration of arbitration procedures. Particular attention has been given to quality-control and efficiency, as well as the elaboration of a financial system which integrates the interests of the parties, the arbitrators and the Chambers. Finally, rules of expedited procedure have been added, with innovative features in respect of appointment of arbitrators and costs.