Originally from World Arbitration Reporter (WAR) - 2nd Edition

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I.  BASIC INFORMATION

A. History and Background of the Institution

1. History

The FAI is one of the world’s oldest arbitration institutions. Its history started in 1909, in Vaasa, a city on the Finnish west coast.  Members of the Vaasa Tradesmen’s Association proposed that an arbitration board be established in Helsinki. Steps towards establishing an arbitral body were taken swiftly, and the new arbitration institution started operations in 1911. Since 1919, it has operated under the auspices of the Central Chamber of Commerce of Finland—nowadays named Finland Chamber of Commerce. In 2021, the FAI celebrated 110 years of existence.

The institution’s original name was “Helsinki Arbitration Board of Commerce, Industry and Shipping”. In 1920, the name was changed to the “Helsinki Arbitration Board”. In 1928, soon after the Finnish Arbitration Act was enacted, the arbitration board changed its name to the “Board of Arbitration of the Central Chamber of Commerce of Finland”. In 2011, the FAI adopted its current name ‘The Arbitration Institute of the Finland Chamber of Commerce”.

The first arbitration rules were drafted in 1910 and revised in 1920. New revisions of the rules followed in 1928, 1961, 1979 and in 1993 after the enactment of the current Arbitration Act (967/1992). In 2004, rules for expedited arbitrations were adopted. In 2016, the FAI adopted rules for mediations. A major revision of the arbitration rules took place in 2013. Most recently, the arbitration rules were revised in 2019, entering into force on 1 January 2020.