FINLAND Law and Practice Contributed by: Julia Pekkala, Mikko Leppä, Risto Sandvik and Nuutti Kortelainen, HPP Attorneys Ltd
10. The Award 10.1 Legal Requirements
Consequently, arbitral tribunals’ requests to produce evidence are generally well respected. Subject to approval of the arbitral tribunal, a party may also apply to the District Court for an order that a party, witness or expert be heard by the court under oath, or that a party or a third person be compelled to present a document or object that may be relevant as evidence in the case. Although the option is available, it is rare for arbitral tribunals to involve courts in taking evidence in arbitration proceedings. Arbitration is private in the sense that information on the existence of the arbitration cannot be obtained from any public register, and arbitration proceedings are not public. However, arbitration is not automati - cally confidential. The Arbitration Act does not contain any express provisions regarding confidentiality in arbitration pro - ceedings. The FAI Rules contain a broad obligation of confidentiality for the arbitral tribunal, the FAI and the parties, which shall apply unless otherwise agreed by the parties. 9. Confidentiality 9.1 Extent of Confidentiality In the absence of a confidentiality agreement or refer - ence to institutional rules providing for confidentiality, the arbitration or its constituent parts are not inher - ently confidential. Even if the arbitration is confidential – whether through the parties’ explicit agreement or relevant institutional rules – this confidentiality is not absolute, especially where court involvement is necessary. It is generally accepted that a party may disclose information from the arbitration in subsequent legal proceedings, such as those aimed at enforcing or challenging an arbitral award, to the extent it is necessary.
An arbitral award must be in writing and signed by all arbitrators. An arbitral award shall also state the date of its issuance and the place of arbitration. The absence of the signature of one or more arbitra - tors will not make the award null and void if it has been signed by the majority of all members of the arbitral tribunal and if they have stated the reason why an arbitrator who participated in the arbitration has not signed the award. Unlike the Arbitration Act, the FAI Rules also require that the arbitral tribunal state the grounds upon which the award is based, unless the parties have agreed that no grounds are to be given. Under the Arbitration Act, there are no statutory time limits on the delivery of the award. According to the FAI Rules, the final award shall be rendered no later than nine months from the date on which the arbitral tribunal received the case file from the FAI. This time limit may be extended upon a reasoned request of the arbitral tribunal or, if deemed necessary, on the FAI’s own initiative. 10.2 Types of Remedies The Arbitration Act does not impose categorical restrictions on specific types of remedies or damages. Instead, it establishes a system where public policy serves as the primary limitation and, therefore, rem - edies that violate Finnish public policy are prohibited (such as punitive damages). Arbitrators must operate within their granted authority and cannot exceed the scope of their mandate. The award must be based on law, unless the parties have explicitly agreed that the arbitral tribunal may base its award on ex aequo et bono. Parties retain significant autonomy to define the scope of relief sought and the legal framework governing their dispute. 10.3 Recovering Interest and Legal Costs Parties retain the right to claim interest as part of their substantive claims. The interest may be agreed upon by the parties or determined under the applicable sub - stantive law.
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