Answer ... According to Article 189, paragraph 1 of the Private International Law Act (PILA), an arbitral tribunal seated in Switzerland shall render its award in conformity with the procedural rules and in the form agreed by the parties. Article 189, paragraph 2 further stipulates that the award shall be made by majority vote or, in the absence of a majority, by the chairperson alone. In addition, the award must be in writing, supported by reasons, dated and signed; in this regard, the chairperson’s signature is sufficient.
Answer ... Swiss law specifies no timeframe within which the arbitral tribunal must produce its award. However, as per the arbitrators’ contract, arbitrators are obliged to conduct the proceedings in a reasonably expedited manner and issue the necessary orders in good time.
In particular, the Swiss Rules of International Arbitration provide an expedited procedure that the parties may agree upon in cases where the amount in dispute exceeds CHF1 million (Article 42 of the Swiss Rules). In such cases, an award must be rendered (subject to limited exceptions) within six months of the date on which the secretariat of the Arbitration Court transmitted the file to the arbitral tribunal (Article 42, paragraph 1(d) of the Swiss Rules). In cases involving amounts in dispute of less than CHF1 million, the arbitration proceeding will as a rule be expedited.