Has Brazil Fully Embraced the Provisions of the New York Convention of 1958? Is it an Arbitration-Friendly Jurisdiction?
In 1996, when the Brazilian Arbitration Act (“BAA”) came into force, the New York Convention (“NYC”) was still facing considerable resistance from the Brazilian Executive and Legislative branches. At that time, there were few indications that the NYC would be ratified in the near future. This is why the draftsmen of the bill (a bill…