Commercial Arbitration – does it really have a future?

Abstract

With the passing of the Commercial Arbitration Act 2011 (Vic) and similar Acts in all other States of Australia the opportunities for domestic commercial arbitration to really take hold appears now to be high.This article examines what may be seen to be seven benefits arising under the new Commercial Arbitration Act 2011, namely:(a) privacy and confidentiality;(b) efficiency;(c) specialist expertise;(d) informality;(e) the ability of the arbitral tribunal to exercise a great degree of control;(f) interim measures;(g) limited appeals.

Keywords

• commercial
• arbitration