| The parties may constitute the arbitral tribunal’s competence by including the model arbitration clause in the main contract or agree on its competence in a separate agreement after the dispute emerged.
In both cases, the stipulation of the arbitral tribunal’s competence consequently excludes the ordinary state court of first instance to determine the dispute at stake. Subject to some objections submitted to the ordinary state courts, the arbitral tribunal’s decision is final.
The Arbitral Tribunal for the Swiss Real Estate Industry applying the Rules of Arbitration for the Swiss Real Estate Industry has real judicial authority. Its award is equal to an ordinary state court’s decision and can be prosecuted easily in national and international cases. |
