New Arbitration Act To Further Boost Netherland’s Competitive Position As Arbitration Venue

The revised Dutch Arbitration Act as recently adopted by the Dutch First Chamber will further enhance the efficiency and flexibility of the arbitration process and will offer a more time- and cost-efficient framework for the dispute resolution process. As a result of the revised Act, delays through state court proceedings will be avoided, the administrative burden will be reduced and party autonomy will be maximised. In addition, the revised Act offers a more effective model for proceedings on recognising and enforcing as well as setting aside arbitral awards.

The revised Act will boost the position of the Netherlands as a leading arbitration venue for both domestic and international disputes. This development will significantly benefit parties planning to resolve their disputes through arbitration in the Netherlands. The revised Dutch Arbitration Act will enter into force on 1 January 2015 and will apply to arbitral proceedings initiated on or after that date.