The recently issued Rules of Arbitration of the Liechtenstein Chamber of Commerce and Industry (Liechtenstein Rules) may be agreed to apply to both international and domestic proceedings and to arbitral tribunals sitting both in Liechtenstein and abroad.
With 32 articles, the Liechtenstein Rules are concise, manageable and comprehensible when compared with other arbitration rules. The simplicity of the proceedings is a central advantage of the Liechtenstein Rules. For instance, the duties to produce documents are minimal, and only one exchange of submission is envisaged. This results in a considerable acceleration of the proceedings.
The Liechtenstein Rules attach special importance to confidentiality. All parties involved in the proceedings are required to maintain strict confidentiality. The Rules also contain several procedural provisos that ensure the greatest possible discretion in the proceedings. The costs of the proceedings have deliberately been kept reasonable in relation to the amount in dispute. The schedule of the costs of arbitration set out in the Liechtenstein Rules is based on the schedule set out in the Swiss Rules, but is reduced by up to 15%.
Unlike some foreign arbitral institutions, the Liechtenstein Chamber of Commerce and Industry does not maintain a permanent and costly body dedicated to arbitration. The Liechtenstein Rules establish a “quasi-institutional” system. The smooth handling of individual arbitral proceedings is ensured on an ad hoc basis by appointing experienced experts for each case. In this way, the parties enjoy the greatest possible degree of flexibility to take account of the particularities of each individual case. At the same time, the LIS makes a secretariat available to the Chamber of Commerce and Industry as part of the agreed cooperation arrangement. The secretariat is staffed with independent persons with legal training. Upon request of the parties, the secretariat appoints an equally independent commissioner for specific arbitration proceedings; the commissioner intervenes especially if the parties are unable to agree on the appointment of arbitrators. The commissioner also has the power to dismiss biased arbitrators or arbitrators neglecting their duties. In these ways, the Liechtenstein Rules combine the advantages of ad hoc arbitration with those of institutional arbitration.