Comparative Guides
Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.
Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.
Start by selecting your Topic of interest below. Then choose your Regions and finally refine the exact Subjects you are seeking clarity on to view detailed analysis provided by our carefully selected internationally recognised experts.
Results: 4 Answers
International Arbitration
1.
Legal framework
1.1
What is the relevant legislation on arbitration in your jurisdiction? Are there any significant limitations on the scope of the statutory regime – for example, does it govern oral arbitration agreements?
 
Greece
Parties involved in international commercial arbitration proceedings in Greece can apply Law 2735/1999, which incorporates (with minor amendments) the UNCITRAL Model Law on International Commercial Arbitration.

Moreover, domestic arbitration and international disputes of a non-commercial nature are governed by Articles 867 to 903 of the Code of Civil Procedure, which also apply directly or indirectly to international commercial arbitration if an issue is not specifically governed by Law 2735/1999 and vice versa.

For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP
1.2
Does this legislation differentiate between domestic arbitration and international arbitration? If so, how is each defined?
 
Greece
Yes. Law 2735/1999 provides that an arbitration is considered to be ‘international’ if:

  • the registered seats of the parties are in different countries at the time the arbitration agreement is concluded;
  • the location of the arbitration or the place where the contractual obligations should be performed is in a different country from that in which the parties have their registered seats; or
  • the parties have expressly agreed that the subject matter of the arbitration agreement is connected to several countries.

Considering the above, the Hellenic jurisdiction fulfils international arbitration standards.

For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP
1.3
Is the arbitration legislation in your jurisdiction based on the UNCITRAL Model Law on International Commercial Arbitration?
 
Greece
Yes (see question 1.1).

For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP
1.4
Are all provisions of the legislation in your jurisdiction mandatory?
 
Greece
Most of the legislative provisions afford the parties wide discretion. Nevertheless, there are mandatory rules which cannot be deviated from - namely, those that:

  • relate to the arbitrability of disputes; and
  • are considered to implement public policy provisions.

Moreover, the Code of Civil Procedure and Law 2735/1999 include mandatory judicial prerequisites - namely:

  • equal treatment of the parties;
  • the opportunity for each party to fully present its case;
  • the rights of defence; and
  • the rules of due process.
For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP
1.5
Are there any current plans to amend the arbitration legislation in your jurisdiction?
 
Greece
Not at the moment.

For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP
1.6
Is your jurisdiction a signatory to the New York Convention? If so, have any reservations been made?
 
Greece
The New York Convention (1958) was signed and ratified by Greece (with two reservations) through the adoption of Decree-Law 4220/1961 and entered into force in October 1962.

The two reservations are as follows:

  • Greece will apply the convention only to disputes that arise from legal relationships, whether contractual or not, which are considered ‘commercial’ under Greek law; and
  • Greece will apply the convention only to the recognition and enforcement of awards rendered in the territory of another contracting state.
For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP
1.7
Is your jurisdiction a signatory to any other treaties relevant to arbitration?
 
Greece
Greece is a signatory to the following treaties relevant to arbitration:

  • the Geneva Protocol on Arbitration Clauses (1923);
  • the Geneva Convention on the Execution of Foreign Arbitral Awards (1927);
  • the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (1966);
  • various multilateral investment treaties, such as the Agreement Establishing the World Trade Organization (1994) and the Energy Charter Treaty (1994); and
  • a series of several bilateral investment treaties.
For more information about this answer please contact: Manolis Perakis from Dracopoulos & Vassalakis LP