Arbitration Law In Brazil

The importance of arbitration in today's international business and banking world can be noticed by the introduction of the arbitration in a large number of contracts involving a significant amounts of money. The reasons to choose this mechanism for dispute resolution is to avoid the slowness of national courts, the belief that private arbitrators can decide fairly and impartially, the lack of publicity (which is also a big advantage to international companies which are very concerned about their reputations) and flexibility and speed in the use of arbitration comparing to the procedures of public courts. Further, arbitration can lead to effective settlement negotiations, maintaining or trying to maintain the future business relationships.