Regaining confidence in arbitration. Latest implementations of arbitral institutions to make it faster and more transparent

Abstract

A series of cases in which the excessive and harmful use of arbitration served large-scale acts of corruption have caused arbitration to lose credibility in Peru. Consequently, the State has proposed bills and regulations to prevent these abuses but has only hindered the arbitration process as a dispute resolution mechanism. This article identifies the most recent tools and regulations implemented in some national and international arbitration institutions to make arbitration faster and more transparent and, thus, recover the citizen’s trust in it. These tools and regulations are the calendar of arbitral proceedings, objective sanctions for delays on the part of the arbitrators, virtual notifications and proceedings, the administrative secretariat, the Lima Chamber of Commerce (CCL)’s tool “Faro de Fransparencia”, the new requirements for the parties and the secretaries of arbitration to avoid conflicts of interest, and the duty of the parties to report on third-party funding.