Nadmitov, Ivanov and Partners Law Firm represents the interests of clients under the Swiss Rules of International Arbitration of Swiss Chambers of Commerce.
Number of arbitrators: the parties can agree on the number of arbitrators themselves, the most common option is to hire 1 or 3 arbitrators.
Cost: The arbitrators' fees and the amount of expenses depend on the collegial or sole composition of the court, the amount of the claim. In this case, when determining the amount of the dispute, claims and counterclaims are summed up. In addition, a registration fee is paid, the amount of which also depends on the price of the claim and ranges from 4250 to 8500 EURO.
Positive aspects: suitable for considering cases in accordance with applicable law of both continental and common systems of law. The parties are free to appoint their arbitrator (s), choose the applicable law, language of proceedings, place of arbitration and their representative in Switzerland or abroad. If the place of arbitration is Switzerland, the parties will enjoy numerous advantages of Swiss arbitration law.
Disadvantages: The arbitrators' fees do not include the costs of the arbitrators and the costs of expert advice that the arbitrators may require. In addition, if the suspension of the proceedings is required for a period of more than 3 months, an additional fee of 1900 EURO will be charged for this.
Timeframe: Swiss rules do not specify a time frame for the consideration and resolution of a dispute.