The announcement represents an important development, enabling ICC to continue administering arbitral proceedings involving the State of Sao Paulo.
Brazil has become a key market for ICC Arbitration in recent years with ICC dispute resolution statistics for 2019 showing a rise in the number of ICC Arbitrations featuring Brazilian parties (133 up from 117 in 2018). According to the latest figures, Brazil ranks third in terms of the number of parties. Since its establishment in Sao Paulo in 2017, ICC’s case management team in Brazil has administered 74 cases – 24 cases involving state entities.
Alexis Mourre, President of the ICC Court said: “The recent announcement of ICC as a registered institution with the State of Sao Paulo is welcome news for ICC and supports ICC’s growing presence across Brazil and Latin America which is bringing our neutral, high-quality range of Dispute Resolution Services closer to users in the region.”
In 2018, ICC inaugurated a state-of-art dispute resolution facility in Sao Paulo. Earlier in February an ICC-FIDIC conference on international construction contracts took place in Sao Paulo, attracting over 140 participants from close to 30 countries. More ICC events are set to take place in the city in March, including the 9th ICC Brazilian Arbitration Day and an ICC Institute training on drafting enforceable awards.