AS TRADE WITHIN the Western Hemisphere proliferates, transnational trade partners increasingly rely on arbitration as a means of dispute resolution in lieu of litigation. Brazil, the largest economy in Latin America, has historically been slow to adopt arbitration due to a lack of enforcement of arbitration agreements by the courts beyond the remedy of contractual damages and the requirement of judicial ratification of arbitral awards. The perception of Brazil's cautious approach to arbitration changed with the passage of Law No. 9.307 of 26 September 1996 ("Law No. 9.307"), bringing it closer in line with the pro-arbitration United States Federal Arbitration Act ("FAA"),6 which codifies federal arbitration law.
"The Intricacies of Commercial Arbitration in the United States and Brazil: A Comparison of Two National Arbitration Statutes,"
University of San Francisco Law Review: Vol. 37
, Article 5.
Available at: http://repository.usfca.edu/usflawreview/vol37/iss2/5