ADR Clauses, Arbitration, Arbitration clause, Brazil, Brazilian Arbitration Act, Hardship, Latin America
Is a Party’s Lack of Resources a Reasonable Procedural Defense to Render an Arbitration Clause Null and Void? A Brazilian Perspective
Arbitration can be defined as a dispute resolution mechanism by which parties submit their case to a specifically chosen decision-maker to render a binding decision. Arbitration is a consensual procedure and can only be initiated if parties have agreed to do so. As most arbitration laws, the Brazilian Arbitration Act (“BAA”) provides for the enforceability…