Originally From World Arbitration and Mediation Review (WAMR)

I. INTRODUCTION

Notwithstanding its only 513 years of history and struggle with certain social problems, Brazil became the 7th largest1 economy in the world in 2013.2

Being a civil law country, Brazil mostly relies on its written codes and the jurisdiction of its judges and arbitrators. Yet, arbitration is not the flagship of Brazilian dispute resolution. This likely will change in 2014 when the UN Convention on Contracts for the International Sale of Goods (CISG) enters into force, As a BRICS member (Brazil, Russia, India, China and South Africa), the country consolidates its relevance in the global scene and calls the attention of investors worldwide.

Although Brazil has not adopted the UN Commission on International Trade Law the Model Law on International Commercial Arbitration (“UNCITRAL Model Law”), it has a without any declarations or reservations. This legal framework will encourage international partners to engage in cross-border commerce with Brazil, and use arbitration as the favored dispute resolution method. Furthermore, Brazil is also a party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention), providing a safe environment for arbitration.