Answer ... 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.
Answer ... 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.
Answer ... Yes (see question 1.1).
Answer ... 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.
Answer ... Not at the moment.
Answer ... 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.
Answer ... 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.