Welcome to the first edition of the Norton Rose
Australia International Arbitration e-newsletter, International
Arbitration In Focus.
Recent changes to the International Arbitration landscape have
dramatically revitalised the competitiveness of this tool in
cross-border dispute resolution. Amendments to the United
Nations Commission on International Trade Law in 2006 have
seen successive adoption among member states, including Australia
and the release of the UNCITRAL arbitration rules has provided a
push toward arbitration as the leading alternative.
With a competitive focus on providing security, flexibility and
confidentiality in commercial disputes, the new UNCITRAL Rules
offer a fresh breeze of pragmatism to what may otherwise have
become a stale institution. Traditionally a benchmark for
procedures in disputes involving states and cross-border contracts,
the new Rules may now stop the gaps previously filled with domestic
The timing could not be better and Australia has responded
quickly in response to the growth and demand of the Asian economies
to provide a neutral location for dispute resolution. With the
recent enactment of the International Arbitration Amendment Act
2010 and the establishment of the Australian Centre for
International Arbitration in Sydney, Australia is now well placed
to utilise its geographic advantage in the region.
As greater globalisation forces companies to contemplate
legislative regimes that can better facilitate their disputes, the
amendments to Australia's suite of arbitration legislation
improve the legal framework supporting the conduct of international
arbitrations by implementing measures requiring the Model Law to be
used to resolve international commercial disputes in Australia. By
adopting international best standards on international arbitration
and seeking to improve the efficiency and effectiveness of
arbitration, the amendments will also assist in promoting Australia
as a choice of forum for the resolution of international
Amidst the legislative changes and move to alternative dispute
resolution measures, especially in the context of large and complex
commercial transactions, Norton Rose Australia is well placed to
assist you, drawing on a depth of international, regional and
domestic experience in this area of dispute resolution.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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The TPP could have a significant positive impact on the investment and financial services of Australia and Singapore.
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