Yes, it is possible to add an arbitration clause afterwards. It should be noted that in Sweden there is no formal requirement for arbitration, which means that Swedish parties can agree orally that a dispute will be settled by arbitration. However, for reasons of evidence, parties should incorporate a written arbitration clause in their contracts.
Dispute Resolution Clauses
SCC Dispute Resolution Clauses
The dispute resolution clause shall state the manner in which any dispute between the parties shall be solved.
Where the parties agree to arbitrate any disputes under the SCC Rules, we recommend that the SCC Dispute Resolution Clauses are included in the contract.
The Dispute Resolution Clauses can be found in a number of variations to suit the parties wishes; clauses referring to the SCC Arbitration Rules or the SCC Rules for Expedited Arbitrations only, and various combination clauses giving greater flexibility when the size and character of any dispute is more difficult to predict.
Besides the arbitration rules, the parties are encouraged to express in the dispute resolution clause their choice as to both the substantive and procedural law applicable to the controversy. Substantive law is the body of laws which regulates the contractual rights and obligations of the parties. Statistics from the latest years show that in SCC cases, parties very frequently opt for Swedish law. The second most used is English law.
Dispute Resolution Clauses
- Full-scale arbitration (a flexible procedure for all claims).
- Expedited arbitration (a fast-track procedure for smaller and medium sized claims).
- Expedited arbitration or full-scale arbitration depending on the circumstances.
- Expedited arbitration or full-scale arbitration depending on the amount in dispute.
- Mediation first hand, arbitration when the parties cannot agree on mediation or mediation is unsuccessful.
- SCC-ISDA Model arbitration Clause: Facilitates the use of arbitration as a recommendable dispute resolution alternative by banks and financial institutions.
- Model Agreement for submission of an existing dispute to SCC arbitration.
- Model Agreement for submission of an existing dispute to SCC expedited arbitration.