The Netherlands updates its Arbitration Act
By Wouter de Clerck
Although the Netherlands is not yet recognised as a traditional seat for international arbitration when compared with established seats such as France (Paris), the UK (London) and Switzerland (Geneva), its parliamentary capital, the Hague, is firmly on the international arbitration map as an alternative seat.
Home of the Permanent Court of Arbitration (PCA) since 1901, the city traditionally attracts arbitrations between states and private parties and is likely to broaden its reach still further with the recent establishment of the PRIME Finance arbitration institute for the settlement of disputes in relation to complex financial transactions.
In April 2013 the Dutch government published a bill for the ‘modernisation of Netherlands arbitration law’. Among other things, the bill aims to ensure the continued appeal of the Netherlands Arbitration Act (1986) to international users. Some of the changes that are proposed in the bill are discussed below…
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