Azerbaijan's New Arbitration Law 2024: A Step Towards Modernization

On 25 January 2024, Azerbaijan's new arbitration law came into force, marking a significant milestone in the country's efforts to modernize its dispute resolution framework (the "Arbitration Law"). This law regulates both international and domestic arbitrations and is largely based on the UNCITRAL Model Law, bringing Azerbaijan's arbitration regime closer to international standards.

Structure

The Arbitration Law consists of 59 Articles and 8 Chapters, structured as follows:

• Chapter 1, General Provisions, Articles 1-15;
• Chapter 2, Arbitration Agreement, Articles 16-18;
• Chapter 3, Composition of the Arbitral Tribunal, Articles 19-26;
• Chapter 4, Interim Measures, Articles 27-34;