Search terms: Arbitration, Brazil
Including: Institutions; Seminars and conferences; Research; International treaties and conventions.
It is vital to the success of arbitration in Brazil that all arbitration agreements are drafted with integrity. Poorly drafted agreements are likely to lead to protracted lawsuits that may well preclude the execution of the arbitration clause and serve only to discourage this form of dispute resolution.
Brazil is close to ratifying the Olivos Protocol for the Settlement of Disputes within Mercado Común del Cono Sur (Mercosur), which was signed last year by Argentina, Brazil, Paraguay and Uruguay. The protocol aims to improve the Mercosur dispute settlement system by ensuring the uniform application and interpretation of legal instruments that implement it into domestic law.
In the early 1990s Brazil signed a number of bilateral investment treaties with the aim of attracting increased foreign investment. However, as yet none has been ratified. The dispute settlement mechanism provided for under the treaties is just one question that has been subject to debate, due to concerns that it may conflict with legal and constitutional provisions.
Brazil has ratified the 1958 New York Convention on the recognition and enforcement of foreign arbitration awards. This will facilitate the recognition of Brazilian arbitration awards overseas and guarantee recognition for Brazil as a suitable location for international arbitration proceedings.
Including: Liberalization; Agreements; Arbitration Process; Domestic and Foreign Rulings; Constitutionality.