📋 Tender Overview
The Ministry of Justice requests comments on the memorandum concerning the reform of the Arbitration Act. According to the Programme of Prime Minister Petteri Orpo's Government, the need to reform the Arbitration Act will be examined and the necessary legislative amendments will be prepared to promote the competitiveness of Finland's arbitration activities.
Arbitration is a means of dispute resolution that is an alternative to litigation in court. In particular, it is used for the settlement of disputes between undertakings, and the costs of the procedure are borne by the parties themselves.
The current Arbitration Act dates from 1992. The reform takes into account international developments in the sector and the shortcomings identified in practice. The law has been amended only slightly since its enactment.
The Ministry of Justice intends to appoint a working group in the autumn to prepare legislative amendments.
Comments can be submitted until 15.7.2024.
