Commercial Arbitration in Queensland gets much Needed Overhaul

New commercial arbitration legislation will bring Queensland in step with other States.

Queensland's out-of-date arbitration regime is about to get a much-needed overhaul with the introduction of the new Commercial Arbitration Bill (2011).

And, it's not before time. As the frenzy of Queensland's resources boom continues unabated, so too has there been an inevitable increase in disputes. Given the money, corporate profiles, commercially sensitive information and international connections typical of these disputes, commercial arbitration is fast becoming the preferred dispute resolution mechanism.

The arbitral process has a number of drawcards. Proceedings are confidential and disputes can usually be kept out of the public domain. Parties have more control over the process, including decisions about the appointment of arbitrators and procedural rules. The capacity of arbitration to enforce both international and local awards also ensures it is no toothless tiger.