International Commercial Arbitration
|Sunday, December 5, 2010 at 11:00 PM
International Commercial Arbitration SSL Draft
This SSL draft is based on Florida Chapter 2010-60, which codifies the Model International Commercial Arbitration Law. A Florida House Legislative Staff Analysis of Chapter 2010-60 notes, “Arbitration is an alternative to litigation, under which parties agree to have their disputes settled by a neutral third party. Arbitration has become favored for disputes involving international trade, where results of litigation can hinge on where the suit is brought and judgments can be difficult to enforce internationally.”
The Florida legislative analysis states that Florida’s law (and therefore, this SSL draft) applies to international arbitration and would be subject to any agreement between the United States and any other country. However, such legislation only applies to arbitration conducted in the state, except provisions relating to court-enforcement of arbitration awards, requests for interim measures of protection, and grounds for refusing award recognition or enforcement.
Status: Enacted into law in 2010.
Tags:2012 SSL Volume