As you know, arbitration in Brazil has become a reality. After several decades of being considered as the last frontier of international arbitration in Latin America, Brazil is now one the most important country in the practice of arbitration on this continent. The last years’ ICC International Arbitration Court statistics show the influential position of Brazil in Latin America.
However, does Brazil have the sufficient elements to become the natural choice for the Latin-American parties, as the place of arbitration? Brazil has a modern law (Law 9.307/96), it has ratified the 1958 New York Convention (in 2002) and in addition, the case law has been very consistent in ruling in favor of arbitration. Brazilian lawyers have been involved with arbitration proceedings as counsels and as arbitrators. What else does Brazil need to become one of the major players in the arbitration world?
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Bosco, does Brazil have the institutional commitment from the arbitral community? For example, the LCIA has established arbitral centers in Dubai and India, and the PCA is spreading to other growing countries. I think some sort of institutional commitment helps a country develop its reputation in the arbitral community. Any word on similar developments in Brazil?
Looking at the recent history, one might well say that arbitration development has been pretty intense after the New York Convention was ratified in 2002. Not long ago, international arbitration awards would have to follow double exequatur procedure in order to be enforced in the country… Brazil is the new kid on the block, taking big steps in a short period of time.
What are the main issues that lawyers in Brazil find in an international arbitration court regarding the rule of law? And how about the arbitration clause?
What are the main issues that lawyers in Brazil find in an international arbitration court regarding the rule of law? And what are the main issues with the arbitration clause? Is it easy to enforce an award in Brazil? Thanks