Introduction

The current Austrian arbitration law dates back to the year 1895. Finally, after more than 100 years without any significant changes, a completely amended law has passed parliament (Federal Law Gazette - BGBl I 2006/7). Effective 1 July 2006, the new arbitration law will come into force in Austria. It will govern all arbitration proceedings that will be initiated on or after 1 July 2006. As to the validity of arbitration agreements, the new law will apply if the arbitration clause is agreed on this day or thereafter. The new Austrian law will not distinguish between domestic and ...