High trust for the SCC Arbitration Institute in the Nordics
SCC Arbitration Institute is the preferred choice among Nordic companies turning abroad to resolve their business disputes. This is demonstrated by the seventh edition of the Roschier Disputes Index.
Published 2024-03-12
SCC has a leading role in the Nordics
The SCC maintains a high trust among Nordic companies. A majority of the respondents, 55 %, prefer to resolve their disputes at the SCC when turning beyond their national borders.
According to Caroline Falconer, Secretary General of the SCC, the trust shown may be influenced by several factors:
”The SCC's efficient and adaptable procedures, coupled with a strong culture of innovation, cater to the evolving needs of businesses. We offer truly efficient and flexible procedures, and our innovative culture is well-known. We have a strong dedication to serving the best interests of companies, and our commitment to neutrality and impartiality ensures fairness in all cases and across jurisdictions.”
Continued positive attitude towards arbitration in the Nordics
Nordic companies prefer arbitration over litigation, with a majority of 64%. Over ten years, this figure has remained stable with a slight increase of 3%. The preference for arbitration is primarily due to the following three reasons:
- Arbitration is confidential
- The arbitrators have relevant expertise for the dispute in question
- Arbitration is more efficient than litigation
Caroline Falconer highlights the advantages Nordic companies stand to gain through arbitration procedures:
"Arbitration offers privacy, allowing sensitive information to remain confidential, while also enabling parties to select arbitrators, for example with industry-specific expertise. The process is flexible, accommodating the parties' needs and leading to generally faster and more cost-effective resolutions."
Arbitration prevails strongly over litigation in Finland and Sweden over litigation
88% of Finnish companies prefer to resolve their commercial disputes through arbitration rather than in court. For Sweden, that number is 78% and for Denmark, 50%. As in previous years, Norway remains the only Nordic country that prefers litigation over arbitration.
"Sweden's prominence in arbitration in the Nordics can be attributed to its well-established arbitration institution (SCC was founded in 1917 and has had a great number of international disputes since the 70’s), favorable legal framework, great international reputation, and efficiency, making arbitration the preferred choice for resolving disputes among Swedish companies," says Caroline Falconer.