NEWSLETTER-2020-metin

222 NEWSLETTER 2020 listed under the PILA; however, the Swiss Supreme Court allows the parties to ask for a correction, interpretation, and amendment and revi- sion of the award, and the current revisions to the PILA now reflect these remedies. According to Article 189 (a), a party of the award can seek a cor- rection, interpretation, or amendment within 30 days after the award. A party may also seek revision of the award within 90 days after the grounds for revision presents itself. These grounds are (i) new and material facts, (ii) a criminal offense influencing the award, and (iii) grounds to challenge the arbitrator(s). One of the clarifications made to the PILA is that an award can be challenged regardless of the amount in the dispute. A very important revision now allows the parties to file written submissions in English to the Swiss Federal Supreme Court to set aside, or revision of the applications. In the current practice, the parties are only allowed to file submissions in German, French and Italian. This revision will clearly reduce translation costs and ease the work of attorneys. However, it should be noted that only lawyers admitted to the Swiss bar are allowed to file submissions. Conclusion New revisions and clarifications made to the PILA will apply as from its entry into force, time of the arbitration agreement, and initia- tion of the arbitration would not be considered.