Trade Disputes in Brazil

Overview by Globlatrade.net:
Arbitration
Arbitration has been officially recognized as a legitimate procedure for domestic and international commercial conflict resolution for 10 years.
Arbitration Law
Law nº 9307 of 1996
Conformity to International Commercial Arbitration Rules
Party to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
Appointment of Arbitrators
Chosen by the opposing parties.
Arbitration Procedure
Arbitration procedures are only accepted for cases of an economic nature. International arbitration must be ratified by the Supreme Court to be valid in Brazil. Brazilian justice can be referred to if an arbitration decision is not observed.
Permanent Arbitration Bodies
Arbitration practice in São Paulo (Sectors Covered: All commercial disputes in their jurisdiction.)
Arbitration practice in Rio (Sectors Covered: All commercial disputes in their jurisdiction.)
Brazilian Chamber of Arbitration (TAAB) (Sectors Covered: All commercial disputes in their jurisdiction.)

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