The principle of party autonomy is recognized to the fullest possible extent. Key features of Swiss arbitration law:
The most important feature of Swiss law is that it provides for only very limited grounds for potential challenge of the award: a disgruntled party can generally not delay the enforcement of an award by initiating post-award court proceedings; there is no review on the merits of the award, no appeal on a point of law is available, no costly multi-step annulment proceedings before the courts need to be feared. Challenges to an award rendered in Switzerland are handled by a single court, i.e. the Swiss Federal Supreme Court, and are dealt with expeditiously (normally within six months). Since the Swiss arbitration law came into force into 1989, very few awards have been annulled.
Swiss arbitral awards enjoy respect abroad where they are routinely enforced, an important consideration for international businesses.