International Commercial Arbitration at Portugal
Sure! Here’s an overview of International Commercial Arbitration in Portugal:
International Commercial Arbitration in Portugal
Legal Framework
Portuguese Arbitration Law: The primary legislation governing arbitration in Portugal is the Arbitration Law (Law no. 63/2011, of December 14), which is based on the UNCITRAL Model Law on International Commercial Arbitration.
This law provides the framework for both domestic and international arbitration proceedings and aligns Portugal with international best practices.
Portugal is also a signatory to the New York Convention (1958) on the recognition and enforcement of foreign arbitral awards, facilitating enforcement of awards in Portugal and abroad.
Arbitration Institutions
The main arbitration institution in Portugal is the Centro de Arbitragem Comercial (CAC) – the Portuguese Arbitration Centre.
Other institutions include:
Lisbon Arbitration Centre
Portuguese Chamber of Commerce and Industry Arbitration Centre
Key Features
Party Autonomy: Parties are free to agree on the arbitration procedure, seat, and language.
Competence-Competence: Arbitrators have the power to rule on their own jurisdiction, including objections relating to the existence or validity of the arbitration agreement.
Interim Measures: Arbitrators can grant interim or conservatory measures during the arbitration.
Confidentiality: Arbitration proceedings are generally confidential, unlike court litigation.
Recognition and Enforcement: Arbitral awards rendered in Portugal or abroad are recognized and enforceable under the New York Convention.
Arbitration Process in Portugal
Arbitration Agreement: Must be in writing and specify arbitration as the method for dispute resolution.
Appointment of Arbitrators: Typically agreed by the parties or appointed by the arbitration institution.
Arbitration Hearing: Conducted as per the rules agreed upon by the parties or the institutional rules.
Award: Final and binding, with limited grounds for challenge or annulment under Portuguese law.
Enforcement: Awards are enforced through Portuguese courts if necessary.
Advantages of Arbitration in Portugal
Neutral and internationally recognized legal framework.
Well-developed arbitration infrastructure.
Strategic location in Europe.
Portugal’s membership in the EU ensures compatibility with EU arbitration and enforcement standards.
Relatively fast and cost-effective resolution compared to traditional litigation.
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