Keywords
International Arbitration
Arbitral Centre
UNCITRAL
Model Law
Arbitral Awards
Recognition of Awards
New York Convention
How to Cite
Abstract
The New Spanish Arbitration Act is inspired upon the UNCITRAL Model Law of 1985 and it also takes into account several breakthroughs, which have taken place concerning arbitration since 1985 in the UNCITRAL, as well as in the countries surrounding Spain. The two objectives of the New Act are: on the one hand, to provide an efficient dispute resolution method which can be used by corporations as well as by citizens and which can relieve ordinary courts of their workload; on the other hand its objective is also to transform Spain into an attractive seat for arbitration, above all concerning Latin America. A monist system is put in place, applying the same legal regime to both domestic arbitration and to international arbitration, which is defined for the first time. The main advantages of the New Act lie in the fact that international arbitration is favored by way of some provisions, which make it more flexible. Less requisites are demanded for the capacity to be arbitrator and ordinary courts are allowed to intervene only in very specific cases, where the power (potestas) of the State is needed. Furthermore, concerning the powers of the arbitrator, the New Act enacts the kompetenz- kompetenz principle, which empowers the arbitrator to decide upon its own competence, is now made law. On the other hand, complete freedom is given to parties to choose the law applicable to the merits of the case, in international arbitration, and to choose the procedural norms, with the only limit of imperative norms of the Act. Another substantial advantage lies in the fact that the provisional enforcement of awards is now allowed, when a decision about the challenge of the award is still pending.
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