The international Arbitration Institute as a Mercosur dispute settlement system through the Olives Protocol

Abstract

This article seeks to present the characteristics and the organizational structure of Arbitration as a method of dispute settlement in the scope of Mercosur, through the deductive method, showing the way that the institute has become the most advantageous within the scope of International Law, mainly within of the Southern Common Market. Thus, this paper aims to demonstrate how International Arbitration, under the Olivos Protocol and its changes, applies within the Dispute Settlement System in the Southern Common Market block positive. It is noted that the search for Mercosur to improve arbitration within its bloc proceeds from a progressive consolidation of the free trade agreement and its need to grow as a regional bloc, in order to strengthen the South American economy and compete in the market worldwide. That said, the Arbitration system can be presented as a way of overcoming divergences between member countries, since it allows the solution of disputes quickly and at a lower cost. Thus, by choosing this form of dispute resolution, it is possible to achieve speed and procedural savings, as well as the legal certainty that the dispute will be resolved in a satisfactory manner, keeping the commercial relationship between the parties consolidated.