Frequently Asked Questions
Below are the answers to a list of the most frequently asked questions.
Do not hesitate to contact us if you have any questions or if you need further information.
Arbitration is a private dispute resolution mechanism by which the parties mutually agree to be bound by an independent third-party decision maker (the arbitrators) who shall render a final, binding and enforceable decision (the award).
International arbitration has many advantages over litigation:
- Neutral forum: arbitration allows parties from different countries and cultures to settle their disputes in a neutral forum that is specialized and tailored to the parties’ needs.
- Appointment of arbitrators: disputes are settled by independent and impartial professionals with expertise in the subject matter of the dispute; arbitrators provide the parties with highly technical solutions.
- Flexibility: the parties may adjust the procedural stages and time limits on a case-by-case basis; they ultimately “own” the arbitration proceedings.
- Confidentiality: the parties are able to settle their dispute with the utmost privacy and confidentiality, which is essential to protect their interests.
MIAC (or the Center) is an arbitral institution established from the merger of the international branch of the Madrid Court of Arbitration, the Civil and Commercial Court of Arbitration (CIMA) and the Spanish Court of Arbitration. The Madrid Bar Association also became involved in the initiative as a strategic partner.
MIAC administers arbitration proceedings in Spanish, Portuguese, English and French. It does so in accordance with its Arbitration Rules, ensuring a speedy, efficient and meaningful solution to disputes.
MIAC can also act as a Nominating Authority, appointing arbitrators to arbitration proceedings not administered by the Center if so requested by the parties.
Yes, MIAC is a body of the Madrid International Arbitration Association but acts independently from this Association and in accordance with its own Statute, Arbitration Rules and Rules on Appointment and Confirmation of Arbitrators.
The Center has five main bodies: the Chair, the General Secretariat, the Council, the Arbitrator Appointment Committee and the International Commission. Each body performs specific duties, and together they create a system of checks and balances.
The section on Costs includes a costs calculator for MIAC-administered arbitration proceedings. The calculation is based on the quantum of the dispute and the number of arbitrators.
No. MIAC has an international scope. It can administer arbitration proceedings worldwide and in several languages.
MIAC encourages the parties to appoint their own arbitrators. Failing this, by means of the Arbitrator Appointment Committee, the Center submits a list of prospective arbitrators or candidates so the parties can appoint the arbitrators. Or, under specific circumstances, the Center may directly appoint the arbitrators.
The Arbitration Rules and the Rules on Appointment and Confirmation of Arbitrators detail the arbitrator appointment procedure.
The Arbitrator Appointment Committee is a totally independent body within MIAC. It is made up of experts with recognized standing within the arbitration sphere. The Arbitrator Appointment Committee appoints and confirms arbitrators in accordance with the Arbitration Rules and the Rules on Appointment and Confirmation of Arbitrators.
Yes. Arbitrators will be and remain independent and impartial throughout the arbitration. Before being appointed, prospective arbitrators must confirm their availability. They must also sign a statement of independence and impartiality vis-à-vis the parties and, if appropriate, with respect to any third party providing funding.
Moreover, arbitrators are appointed in a transparent manner, and their names are posted on MIAC’s website.
In all matters not regulated by the Arbitration Rules, the law applicable to the arbitration agreement and the arbitration proceedings shall be the law of the seat of arbitration, unless otherwise agreed by the parties, and provided that their agreement complies with the law of the seat of arbitration.
Yes, the Arbitration Rules provide for expedited proceedings where the total quantum of the dispute is equal to or less than EUR 1,000,000. Expedited proceedings allow for shortened procedural stages and time limits so that the dispute can be settled in a speedier manner.
Yes, in Articles 58 to 67. Unless otherwise agreed by the parties, any party may request the appointment of an emergency arbitrator at any time prior to the delivery of the case file to the arbitral tribunal.
Yes. Unless otherwise agreed by the parties, arbitration proceedings are confidential.
Generally, parties are not entitled to challenge arbitral awards. As a general rule, arbitral awards shall be final and enforceable.
However, MIAC Arbitration Rules allow the parties to agree in their arbitration agreement or at any time thereafter that they may challenge the award before the Center.
The parties are entitled to file an action to set aside awards (action for annulment) on specific grounds provided in the law.
Yes. Prior to signing the award, arbitrators will submit it to the General Secretariat for a prior review or examination and for subsequent approval of it. Abiding by the arbitrators’ freedom in decision making, the General Secretariat may call their attention to aspects related to the legal reasoning on which an award has been based or to the merits of the dispute, as well as to the determination and breakdown of costs.