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How the World Can Contribute to the Reform of the Finnish Arbitration Act? – A Comparative Analysis of the Potential Impact of Four Legal Instruments on the Reform Project

Ruotsi, Mikael

Opinnäytetyöt 16.4.2020, Gradut ja muut tutkielmat

Tiivistelmä

This thesis focuses on four issues with the Finnish Arbitration Act (FAA, 967/1992) and offers solutions to how these issues could be solved in the New FAA, based on the outcome of the comparative analysis. The four issues with the FAA to be addressed are: the problems relating to the procedure of challenging an arbitrator; the lack of provisions on interim measures and preliminary orders in the FAA; the inadequate current provisions on setting aside and annulment of arbitral awards; and issues relating to the recognition and enforcement of arbitral awards in accordance with the FAA. The thesis offers distinct conclusions to the four problems. The UNCITRAL Model Law provides a useful foundation in relation to solving the four problems with the Finnish Arbitration Act 1992. The UNCITRAL 2010 Arbitration Rules’ provisions compliment the Model Law in solving these issues. Singapore’s case law is particularly useful for the purposes of the reform project as the International Arbitration Act 1994 is based almost completely on the UNCITRAL Model Law. Finally, the recent changes stemming from the reformed Swedish Arbitration Act 2019 should be considered carefully, when proceeding with the reform project of the Finnish Arbitration Act 1992.
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