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 (which for these purposes includes the Caribbean) 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. Just in the past five years, the Caribbean has opened the door to five different regional institutions.
Accreditation: This article was first published on Latin Lawyer and GAR in November 2023; for further in-depth analysis, please visit latinlawyer.com