Author(s): Maria João Mimoso / Language(s): English
Publication Year: 0
When we speak of international commercial arbitration, we refer to arbitration that has as its object the resolution of commercial disputes on an international scale, between individuals or legal entities, whether these are companies or even States. In the vast majority of situations, we are dealing with commercial relationships of the most diverse nature, including international purchase and sale contracts, large-scale contracts, and license agreements in the field of intellectual property, among others. The advantages of international arbitration lie in its effectiveness when confronted with state justice, due to the neutrality of the arbitration forum, the precise knowledge of the arbitrators, the greater flexibility of the arbitration process, confidentiality, among others. However, it turned out that, in reality, there are problems. Over the last few years, the players have expressed some concerns, especially about the costs and the extension of procedural deadlines, which has made arbitration less appealing and increasingly equated with the justice of state courts. It should be noted that medium-sized companies are the most affected, either because they do not have the possibility of accessing this form of justice, not knowing it, or because they consider it to be very costly in view of the procedural costs it entails. With the purpose of harmonizing expedited arbitration, UNCITRAL created and made available on September 19, 2021, the Expedited Arbitration Rules that can be adapt by the parties. The figure of accelerated arbitration comes, therefore, to present itself as an optimized and simplified process, showing shorter deadlines so that disputes can be resolved quickly and economically. Given the novelty and importance of the subject, we intend to reflect on this new arbitration modality and its consecration by the most prestigious arbitration institutions, e.g. international Chamber of Commerce; American Arbitration Association; Arbitration Institute of the Stockholm Chamber of Commerce; Swiss Arbitration Association.
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