A Q&A guide to arbitration law and practice in the Luxembourg.
The country-specific Q&A guide provides a structured overview of the key practical issues concerning arbitration in this jurisdiction, including any mandatory provisions and default rules applicable under local law, confidentiality, local courts' willingness to assist arbitration, enforcement of awards and the available remedies, both final and interim.
To compare answers across multiple jurisdictions visit the Arbitration procedures and practice Country Q&A tool.
This Q&A is part of the multi-jurisdictional guide to arbitration. For a full list of jurisdictional Q&As visit www.practicallaw.com/arbitration-guide.
Use of arbitration and recent trends
1. How is commercial arbitration used and what are the recent trends?
In recent years, Luxembourg has become one of the major arbitration centres. Arbitration involves a private judge chosen by both parties and allows for a procedure that is often faster and more discreet than traditional judicial procedure.
Luxembourg has many advantages promoting the use of arbitration, such as multilingualism, political stability, localisation (as Luxembourg is in the centre of Europe) and the fact that there are lawyers from varied backgrounds, with knowledge of different legal systems.
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