In an important update for the legal professionals involved in arbitration, the 2023 Edition of The ITA Guide to Latin American Arbitral Institutions has been recently released. As published on JDSupra, this guide proves to be an instrumental resource for anyone doing business in Latin America.
The 2023 ITA Guide is an expansive volume, casting a spotlight on the burgeoning sphere of commercial arbitrations in the Latin American region. Commercial arbitration plays a vital role in the Latin American business ecosystem and has, since the 1990s, seen a major influx in the number of arbitral institutions.
An insightful tool for arbitrators, legal practitioners, and corporate entities, the guide identifies and delves into the particularities of over 170 arbitral bodies. Further, it provides exhaustive details about the existence, history, and caseload of these bodies. It elaborates on whether the parties involved are public or private, specifies the place of administration for the proceedings, and even outlines if there are specific requirements for arbitrators.
The guide takes a deep dive into 30 such institutions, spread across 20 Latin American countries. It is interesting to note that Reed Smith, a law firm with a global presence, has lent its insights to this collation of pertinent information that promises to be a comprehensive reference point on Latin American arbitral institutions.
This invaluable resource underlines the integral role of arbitration in engendering predictable legal outcomes in a business context. For those embarking on commercial ventures in Latin America, this guide empowers them to navigate the dynamic arbitration landscape, thereby strengthening their understanding of local legal practices and enhancing the confidence in the arbitration process.