Mika Savola’s “Guide to the Finnish Arbitration Rules” published
15 January 2015
Mika Savola – our Head of Dispute Resolution in Helsinki, and Chair of the Board of the Arbitration Institute of the Finland Chamber of Commerce (“FAI”) – has recently published an extensive commentary on the Arbitration Rules of the Finland Chamber of Commerce (“FAI Rules”), which entered into force on 1 June 2013.
The FAI Rules are widely applied in the resolution of business disputes in Finland. They contain numerous important amendments to the previous Rules of the Arbitration Institute of the Finland Chamber of Commerce (1993). Fully consistent with the best international norms and practices, the FAI Rules seek to promote the classic virtues of arbitration as an expeditious and cost-efficient method of resolving commercial disputes. Further, they serve to enhance FAI’s reputation as a modern arbitration institution and Finland’s status as a reliable seat of international arbitration.
The book is entitled “Guide to the Finnish Arbitration Rules”. It is a tête-bêche publication, written (in English and Finnish) as a thorough and practical article-by-article commentary on the provisions governing the commencement of arbitration, appointment of arbitrators, proceedings before the arbitral tribunal, rendering of awards and determination of the costs of the arbitration. In addition, the book analyzes questions and potential problems related to multiparty proceedings, interim measures of protection and confidentiality in arbitration, and discusses the special features of expedited arbitration proceedings as well as the drafting of arbitration clauses.
Apart from his position at the helm of the FAI Board, the author Mika Savola has served as chairman of the Task Force responsible for the preparation of the FAI Rules. He has unparalleled knowledge of and experience with the application of the new Rules. Consistent with this, the book contains many detailed references to actual FAI cases (on a no-name basis), which serve to illustrate the practical operation of the Rules and to provide solutions to concrete problems that the users may encounter in any FAI arbitration proceedings.
A comprehensive and accessible reference work on the subject, the book will be an indispensable resource for anyone acting as counsel or arbitrator in FAI arbitration. Furthermore, it will be of value to corporate counsel and other business people interested in the arbitration process under the FAI Rules. From a broader perspective, the book is meant to add to the dissemination of knowledge of international arbitration in Finland, serving as a reliable source for anyone in need of such information.
The commentary is available in bookstores and may be ordered at: http://kauppakamarikauppa.fi/Kaikki-tuotteet/Opas-Keskuskauppakamarin-vaelimiesmenettelysaeaentoeihin-Guide-to-the-Finnish-Arbitration-Rules