Lex Mundi Global Arbitration Institutions Guide |
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Liechtenstein |
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(Europe)
Firm
Marxer & Partner
Contributors
Jochen Schreiber |
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| Name of Arbitral Institution; with abbreviation, if any. | For arbitration under the Liechtenstein Rules of Arbitration: Liechtenstein Chamber of Commerce and Industry ("LCCI") |
| Where is the seat of the Arbitral Institution? | Vaduz, Principality of Liechtenstein |
| Is there an umbrella organization for the Arbitral Institution? | Liechtenstein Arbitration Association, German: Liechtensteinischer Schiedsverein (LIS). |
| How is the Arbitral Institution structured? | The Liechtenstein Rules provide for a minimal infrastructure. The LCCI appoints a secretary for arbitration. It will only become active if applied for by a party and if necessary. |
| Is there a compulsory list of arbitrators that parties are required to choose from? | No. |
| Can the place of arbitration freely be chosen by the parties? Is there a default place of arbitration? | Yes. The default place is Vaduz, Principality of Liechtenstein. |
| What is the amount of the registration fee? | There is no registration fee. |
| What is the average cost of an arbitration in the following cases? 1 arbitrator, amount in dispute = $1 million | The Liechtenstein Rules provide for fixed arbitrator's fees, here CHF 42'000. There may further be costs for experts, travel or other expenses, costs for obtaining or securing evidence or possible costs incurred by the LCCI - and, of course, the costs for representation of the parties. |
| What is the average cost of an arbitration in the following cases? 3 arbitrators, amount in dispute = $10 million | Arbitrator's fees CHF 300'000 |
| What is the average cost of an arbitration in the following cases? 3 arbitrators, amount in dispute = $100 million | Arbitrator's fees CHF 620'000 |
| Who pays advances on costs? What happens in the event of default? | The arbitral tribunal requests each side to deposit an equal amount as an advance for the costs of arbitration. If a party fails to meet, the other party is free to deposit its advance. If no party pays, the tribunal may terminate the proceedings. |
| Does the Arbitral Institution have formalistic procedures (e.g. terms of reference) that must be complied with? If so, which ones? | Art. 31 and 32 of the Liechtenstein Rules. |
| Which languages can be used for communication with the Arbitral Institution? | German, English, French |
| Who is the main point of contact for the parties within the Arbitral Institution? | For any queries, it is best to contact the Liechtenstein Arbitration Association (www.lis.li/en). |
| Are there restrictions on the language that the arbitration may be conducted in? | No. |
| Who appoints substitute arbitrators? | The party that appointed the arbitrator to be replaced, otherwise the commissioner. |
| Are there specific regulations for multi-party arbitrations or joinders to the proceedings? | No. There is no option for joining proceedings or adding third parties for confidentiality reasons (unless the parties agree otherwise). |
| Are oral hearings compulsory? | No, only if requested by a party. |
| What are common evidence-taking practices? | Submission of documents, examination of witnesses and parties, experts. The production of documents is limited, there is not document discovery and there are other provisions to protect confidentiality. |
| What is the average duration of arbitration proceedings? | There are no statistics. The Liechtenstein Rules aim for very short and efficient proceedings, e.g. by the omission of separate introductory proceedings, direct service of the statement of claim, no special reviews, etc. |
| What is the timeframe for rendering the award? | There is no time frame but the arbitrators are obliged to work in a timely manner. |
| Are extensions to time limits permissible? | Generally no. |
| Can the arbitral tribunal impose interim measures? Is there a competing competency of the ordinary courts with regard to interim measures? | Yes, by an interim award. If the tribunal has already been constituted, no party may adress requests to a state court for Interim measures without consent of the tribunal. |
| 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? | No. |
| Do costs necessarily follow the event? | The costs shall in principle be borne by the unsucessful party to the extent it was unsucessful. The tribunal my provide a different apportionment of costs if it deems it reasonable and correct under the circumstances of the case. |
| 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, with the Court of Appeal as the only instance. The grounds for challenge largely correspond to the standard set by the UNCITRAL Model Law. |
| Link to institutional rules | |
| Link to model clause |
Lex Mundi Global Arbitration Institutions Guide
For arbitration under the Liechtenstein Rules of Arbitration: Liechtenstein Chamber of Commerce and Industry ("LCCI")
Vaduz, Principality of Liechtenstein
Liechtenstein Arbitration Association, German: Liechtensteinischer Schiedsverein (LIS).
The Liechtenstein Rules provide for a minimal infrastructure. The LCCI appoints a secretary for arbitration. It will only become active if applied for by a party and if necessary.
No.
Yes. The default place is Vaduz, Principality of Liechtenstein.
There is no registration fee.
The Liechtenstein Rules provide for fixed arbitrator's fees, here CHF 42'000. There may further be costs for experts, travel or other expenses, costs for obtaining or securing evidence or possible costs incurred by the LCCI - and, of course, the costs for representation of the parties.
Arbitrator's fees CHF 300'000
Arbitrator's fees CHF 620'000
The arbitral tribunal requests each side to deposit an equal amount as an advance for the costs of arbitration. If a party fails to meet, the other party is free to deposit its advance. If no party pays, the tribunal may terminate the proceedings.
Art. 31 and 32 of the Liechtenstein Rules.
German, English, French
For any queries, it is best to contact the Liechtenstein Arbitration Association (www.lis.li/en).
No.
The party that appointed the arbitrator to be replaced, otherwise the commissioner.
No. There is no option for joining proceedings or adding third parties for confidentiality reasons (unless the parties agree otherwise).
No, only if requested by a party.
Submission of documents, examination of witnesses and parties, experts. The production of documents is limited, there is not document discovery and there are other provisions to protect confidentiality.
There are no statistics. The Liechtenstein Rules aim for very short and efficient proceedings, e.g. by the omission of separate introductory proceedings, direct service of the statement of claim, no special reviews, etc.
There is no time frame but the arbitrators are obliged to work in a timely manner.
Generally no.
Yes, by an interim award. If the tribunal has already been constituted, no party may adress requests to a state court for Interim measures without consent of the tribunal.
No.
No.
No.
The costs shall in principle be borne by the unsucessful party to the extent it was unsucessful. The tribunal my provide a different apportionment of costs if it deems it reasonable and correct under the circumstances of the case.
Yes, with the Court of Appeal as the only instance. The grounds for challenge largely correspond to the standard set by the UNCITRAL Model Law.