SCC adopts a model arbitration clause for use with the ISDA 2002 Master Agreement
The purpose of the recently adopted SCC-ISDA model clause is to facilitate the use of arbitration as a recommendable dispute resolution alternative by banks and financial institutions.
The clause was drafted in co-operation with the Swedish law firms Gernandt & Danielsson and Mannheimer Swartling and has been reviewed by the trade organization the International Swaps and Derivatives Association (ISDA).
Over the past years the SCC has administered over 20 cases related to derivatives and banking services and involving financial institutions.
The SCC-ISDA model arbitration clause is available for use with the ISDA 2002 Master Agreement; a widely used form of master contract for over-the-counter derivatives transactions.