Hurry Up, Arbitration!

A Historical View on Time Efficiency of Arbitration in the Nordics

Abstract

The focus on achieving time efficiency in arbitration can be taken for granted, but a historical analysis reveals that the Nordic arbitration institutes, especially the SCC Arbitration Institute (SCC), but also the Finland Arbitration Institute (FAI) have been at the forefront of introducing some of the measures aiming at keeping the duration of arbitration in check.
When discussing efficiency in the context of arbitration, one typically considers the time and cost efficiency of the process. The quality of arbitration is often an assumed feature, but it should not be forgotten. An arbitration which ends with an unenforceable award is certainly neither time nor cost efficient.