In 2005, Thomas Friedman described the world as being a ‘flat’ level playing field in terms of commerce, where all competitors globally have been given an equal opportunity to compete. The Latin American arbitration scene is no exception. Though international institutions such as the International Chamber of Commerce (ICC) and the International Centre for Dispute Resolution (ICDR) have continued to register the majority of the international arbitration disputes in Latin America, local institutions have seen their numbers increase, as they have developed their capabilities to host international disputes and have become credible alternatives to the traditional international arbitration institutions. Today, centres in the region are administering significant international cases and have rosters that include leading international arbitrators from outside the region. This article will analyse some of the historical developments of arbitration in the region, as well as identify the circumstances that parties and their counsel should consider when selecting the Iarbitral centre that will oversee the resolution of their dispute.
Accreditation: An extract from the first edition of Latin Lawyer’s / GAR’s The Guide to Arbitration in Latin America. The whole publication is available at globalarbitrationreview.com or latinlawyer.com.