The Rise of International Arbitration

Welcome to the first edition of the Norton Rose Australia International Arbitration e-newsletter, International Arbitration In Focus.

Recent changes to the International Arbitration landscape have dramatically revitalised the competitiveness of this tool in cross-border dispute resolution. Amendments to the United Nations Commission on International Trade Law in 2006 have seen successive adoption among member states, including Australia and the release of the UNCITRAL arbitration rules has provided a push toward arbitration as the leading alternative.

With a competitive focus on providing security, flexibility and confidentiality in commercial disputes, the new UNCITRAL Rules offer a fresh breeze of pragmatism to what may otherwise have become a stale institution. Traditionally a benchmark for procedures in disputes involving states and cross-border contracts, the new Rules may now stop the gaps previously filled with domestic regulations.