Jua 07, 2019
To expedite the access to specialized and well-reasoned decisions. The Ciesp/Fiesp Chamber of Conciliation, Mediation and Arbitration launched its Interim Arbitrator proceeding, which can help the users to obtain the necessary measures in case of urgency.
Arbitration is already known as the preferred method for resolving disputes between companies and business actors local and foreign, thanks to the in depth analysis conducted by the arbitrators and the specialization of the decisions that they render as experts who benefit from the parties’ trust.
Still, it is not only once the arbitration proceeding is over that the parties can benefit from the quality of the decisions rendered by the arbitrators. It is common knowledge that interim or urgent measures can be of fundamental importance in the management of any company or contract. In companies, deliberations can change the course of its business, the performance of contracts may face sudden difficulties and the progress of projects may suffer from interruptions that require the intervention of a neutral third party in order to resolve any disputes. For all those cases, the interested parties may now resort to the Chamber Ciesp/Fiesp’s Interim Arbitrator proceeding.
The arbitrator’s right to render interim measures is widely recognized. The revamped Arbitration Act of 2015 confirmed the arbitrator’s competence to render interim and urgent measures during the arbitration proceeding. The updated statute provides that, before the arbitration commences, the parties may resort to the Judiciary to obtain such measures, and that it is incumbent on the arbitrators to later revise the measures requested before the commencement of arbitration, as well as to maintain, modify or revoke the interim or urgent measure rendered by the Judiciary.
For many users, requesting interim measures from the Judiciary prior to the commencement of arbitration may not be the best option. When dealing with complex contracts, drafted in dozens of pages, having to do with highly specialized industries, it may be more interesting to request such measure from an expert on the field.
In so doing, the parties may resort to an adjudicator of their trust, knowledgeable about the market’s dynamics in order to obtain the urgent measures required in their business ventures.
With the Chamber Ciesp/Fiesp Interim Arbitrator’s proceeding, the parties may obtain within approximately ten days a more specialized decision that is more consistent with the agreements entered into in order to expeditiously remove the hurdles that affect their businesses.
This is an interim decision. The Interim Arbitrator deals with the urgent measure, but leaves the case to be finally decided to the arbitral tribunal, which is competent to finally resolve all disputes arising out of the contract.
The resolution that regulates the Interim Arbitrator proceeding enters into force today, January 7, 2019, and the Chamber Ciesp/Fiesp is ready to administer such proceedings.
The Chamber’s Secretariat is available to offer further information.
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