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The status of arbitration Law of the Latin America, Russian Federation, and the USA
Author
Affiliation
Course
Instructor
Due Date
, 2
The status of arbitration Law of the Latin America, Russian Federation, and the USA
In the 1980s, international arbitration was virtually unknown in most Latin American
countries. The restraint in its application was also due to the hostility to arbitration in the field of
foreign investment, which the so-called Calvo Doctrine supported. The doctrine is an
international body regulating the government's jurisdiction over other nations or non-citizens, the
extent of home state protection, and the collection of indemnities through force. However, the
Calvo Doctrine is currently disfavored because it limits foreign investors' rights when they opt
for international arbitration in state-investor disputes. But after a dozen years, against the
background of the general economic liberalization of the region, the gradual adoption of this
method of dispute resolution began. This paper discusses the US, Russian, and Latin America's
arbitration processes and how the insights from the two nations can help Latin America improve
its arbitration procedures.
Russian Federation
In Russia, international commercial arbitration is governed by The Federal Law on
International Commercial Arbitration, which was established in 1993 as the "law" (Skvortsov &
Kropotov, 2018). The Law unifies and harmonizes Russia's legal practice. The Law resembles
UNCITRAL partly because of modern arbitration legislation in the country. Additionally,
domestic and international arbitrary cases have been rising, forcing the state courts to recognize
and enforce arbitration legislation. Supreme Arbitrahz Court bears guidelines for identifying,
setting aside, and enforcing arbitral awards (Remmer, 2019). These non-binding guidelines are
crucial in understanding Russian legislation.
The Law requires that any commercial disputes involving at least one Russian company
and a foreign party should be redirected to international commercial arbitration. However, the
The status of arbitration Law of the Latin America, Russian Federation, and the USA
Author
Affiliation
Course
Instructor
Due Date
, 2
The status of arbitration Law of the Latin America, Russian Federation, and the USA
In the 1980s, international arbitration was virtually unknown in most Latin American
countries. The restraint in its application was also due to the hostility to arbitration in the field of
foreign investment, which the so-called Calvo Doctrine supported. The doctrine is an
international body regulating the government's jurisdiction over other nations or non-citizens, the
extent of home state protection, and the collection of indemnities through force. However, the
Calvo Doctrine is currently disfavored because it limits foreign investors' rights when they opt
for international arbitration in state-investor disputes. But after a dozen years, against the
background of the general economic liberalization of the region, the gradual adoption of this
method of dispute resolution began. This paper discusses the US, Russian, and Latin America's
arbitration processes and how the insights from the two nations can help Latin America improve
its arbitration procedures.
Russian Federation
In Russia, international commercial arbitration is governed by The Federal Law on
International Commercial Arbitration, which was established in 1993 as the "law" (Skvortsov &
Kropotov, 2018). The Law unifies and harmonizes Russia's legal practice. The Law resembles
UNCITRAL partly because of modern arbitration legislation in the country. Additionally,
domestic and international arbitrary cases have been rising, forcing the state courts to recognize
and enforce arbitration legislation. Supreme Arbitrahz Court bears guidelines for identifying,
setting aside, and enforcing arbitral awards (Remmer, 2019). These non-binding guidelines are
crucial in understanding Russian legislation.
The Law requires that any commercial disputes involving at least one Russian company
and a foreign party should be redirected to international commercial arbitration. However, the
