Lex Mundi Global Arbitration Institutions Guide |
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Greece |
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(Europe)
Firm
Zepos & Yannopoulos
Contributors Updated 29 Oct 2018 |
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| Name of Arbitral Institution; with abbreviation, if any. | Arbitral Tribunal of Athens Chamber of Commerce and Industry |
| Where is the seat of the Arbitral Institution? | Athens, Greece |
| Is there an umbrella organization for the Arbitral Institution? | Athens Chamber of Commerce and Industry ("ACCI") |
| How is the Arbitral Institution structured? | The permanent institution is comprised by the Supervisor, the Secretariat and the Panel of Arbitrators |
| Is there a compulsory list of arbitrators that parties are required to choose from? | Yes. |
| Can the place of arbitration freely be chosen by the parties? Is there a default place of arbitration? | The default place of arbitration is in Athens. |
| What is the amount of the registration fee? | An advance on costs of the ACCI Arbitral Tribunal fixed by the special arbitration service in proportion to the claim is payable by the party submitting the request for arbitration. |
| What is the average cost of an arbitration in the following cases? 1 arbitrator, amount in dispute = $1 million | 7% to 3% on the amount of the claim |
| What is the average cost of an arbitration in the following cases? 3 arbitrators, amount in dispute = $10 million | 1% to 0.2% on the amount of the claim |
| What is the average cost of an arbitration in the following cases? 3 arbitrators, amount in dispute = $100 million | 1% to 0.2% on the amount of the claim |
| Who pays advances on costs? What happens in the event of default? | The party submitting the request for arbitration. |
| Does the Arbitral Institution have formalistic procedures (e.g. terms of reference) that must be complied with? If so, which ones? | There are formalistic procedures as far as the content of the request for arbitration is concerned. |
| Which languages can be used for communication with the Arbitral Institution? | Greek/English |
| Who is the main point of contact for the parties within the Arbitral Institution? | The Sectratariat of the Arbitral Institution |
| Are there restrictions on the language that the arbitration may be conducted in? | Not officially but in practice, they are conducted in Greek or English. |
| Who appoints substitute arbitrators? | The rule of thumb is that the person who appointed the arbitrator who needs to be substituted is required to appoint his substitute within eight (8) days or the substitute is appointed by the President of the ACCI. |
| Are there specific regulations for multi-party arbitrations or joinders to the proceedings? | Specific rules and limitations as to the arbitrators' appointment apply to multi-party arbitrations. Furthermore, although it is provided that a party to an arbitration may raise counter-claims, the Tribunal may at its discretion order that such counter-claims will be the object of separate proceedings so as to ensure that the current proceedings will not be unreasonably delayed. |
| Are oral hearings compulsory? | Yes. |
| What are common evidence-taking practices? | Documents, witness testimonies, experts any any other piece of evidence at the tribunal's discretion. |
| What is the average duration of arbitration proceedings? | An arbitral award is issued within three (3) months as of the first hearing date which cannot be later than twenty (20) days following the formation of the arbitral tribunal. If it is necessary this period may be extended for no more than six (6) months and in practice even under extreme circumstances and complicated cases, the arbitration proceeding were completed in less than a year. |
| What is the timeframe for rendering the award? | An arbitral award is issued within three (3) months as of the hearing date. Such a deadline may be extended (a) by agreement of the parties, or (b) by the order of the Arbitral Tribunal is there is a justifying reason for such delay. |
| Are extensions to time limits permissible? | Yes, if such extension is justified under the circumstances and only for limited time. |
| Can the arbitral tribunal impose interim measures? Is there a competing competency of the ordinary courts with regard to interim measures? | No, ordinary courts have the exclusive competence to impose interim measures. It is only with regard to international arbitration that the ACCI Arbitral Tribunal has competing competency with the ordinary courts to impose such interim measures. |
| Do the institutional rules provide for an emergency arbitrator? | No. |
| Are there any specific regulations for expedited proceedings? If so, is there a deadline for rendering such an award? | No. |
| Are arbitral awards submitted for scrutiny? If so, to whom? | An arbitral award may be annulled pursuant to article 897 of the Greek Civil Code of Civil Procedure by the competent court for reasons similar to the ones stipulated in the New York Convention, i.e. if (a) the arbitration agreement is null and void, (b) it was issued after the arbitration agreement ceased to be effective, (c) it was issued in contravention to the agreement of the parties, to the process, or to the law, (d) it contravenes public order or bonus mores, (e) the tribunal exceeded its power, (f) it is incomprehensible et al. |
| Do costs necessarily follow the event? | The costs and expenses of the arbitration are generally imputed to the defeated party and are fixed by the award. |
| Can an arbitral award be annulled in your jurisdiction? If yes, do the reasons for annulment in principle correspond to the reasons for denial of enforcement according to the New York Convention? | Yes, if such extension is justified under the circumstances and only for limited time. |
| Link to institutional rules | |
| Link to model clause | The contracting parties hereby agree that they wish any kind of dispute arising in connection with this agreement is to be resolved by the Permanent Arbitration of the Athens Chamber of Commerce and Industry as per the provisions of presidential decree 31/1979. |
Lex Mundi Global Arbitration Institutions Guide
Arbitral Tribunal of Athens Chamber of Commerce and Industry
Athens, Greece
Athens Chamber of Commerce and Industry ("ACCI")
The permanent institution is comprised by the Supervisor, the Secretariat and the Panel of Arbitrators
Yes.
The default place of arbitration is in Athens.
An advance on costs of the ACCI Arbitral Tribunal fixed by the special arbitration service in proportion to the claim is payable by the party submitting the request for arbitration.
7% to 3% on the amount of the claim
1% to 0.2% on the amount of the claim
1% to 0.2% on the amount of the claim
The party submitting the request for arbitration.
There are formalistic procedures as far as the content of the request for arbitration is concerned.
Greek/English
The Sectratariat of the Arbitral Institution
Not officially but in practice, they are conducted in Greek or English.
The rule of thumb is that the person who appointed the arbitrator who needs to be substituted is required to appoint his substitute within eight (8) days or the substitute is appointed by the President of the ACCI.
Specific rules and limitations as to the arbitrators' appointment apply to multi-party arbitrations. Furthermore, although it is provided that a party to an arbitration may raise counter-claims, the Tribunal may at its discretion order that such counter-claims will be the object of separate proceedings so as to ensure that the current proceedings will not be unreasonably delayed.
Yes.
Documents, witness testimonies, experts any any other piece of evidence at the tribunal's discretion.
An arbitral award is issued within three (3) months as of the first hearing date which cannot be later than twenty (20) days following the formation of the arbitral tribunal. If it is necessary this period may be extended for no more than six (6) months and in practice even under extreme circumstances and complicated cases, the arbitration proceeding were completed in less than a year.
An arbitral award is issued within three (3) months as of the hearing date. Such a deadline may be extended (a) by agreement of the parties, or (b) by the order of the Arbitral Tribunal is there is a justifying reason for such delay.
Yes, if such extension is justified under the circumstances and only for limited time.
No, ordinary courts have the exclusive competence to impose interim measures. It is only with regard to international arbitration that the ACCI Arbitral Tribunal has competing competency with the ordinary courts to impose such interim measures.
No.
No.
An arbitral award may be annulled pursuant to article 897 of the Greek Civil Code of Civil Procedure by the competent court for reasons similar to the ones stipulated in the New York Convention, i.e. if (a) the arbitration agreement is null and void, (b) it was issued after the arbitration agreement ceased to be effective, (c) it was issued in contravention to the agreement of the parties, to the process, or to the law, (d) it contravenes public order or bonus mores, (e) the tribunal exceeded its power, (f) it is incomprehensible et al.
The costs and expenses of the arbitration are generally imputed to the defeated party and are fixed by the award.
Yes, if such extension is justified under the circumstances and only for limited time.
The contracting parties hereby agree that they wish any kind of dispute arising in connection with this agreement is to be resolved by the Permanent Arbitration of the Athens Chamber of Commerce and Industry as per the provisions of presidential decree 31/1979.