Arbitration is a method of settling disputes between two or more parties, carried out by one or more persons who have powers for that purpose recognized by law, but assigned by agreement of the parties.
Arbitration tribunals are constitutionally established bodies (article 209, no. 2 of the Constitution of the Portuguese Republic).
Arbitration is a voluntary alternative dispute resolution mechanism, as recourse to this court depends on the will of the parties, through an arbitration agreement.
The arbitration agreement is the agreement by which the parties undertake to submit existing or future disputes to an arbitral tribunal.
The composition of the arbitral tribunal is freely chosen by the parties, who may choose between a single court or a collective court (of three arbitrators), it is up to the parties to appoint the arbitrators. The court can integrate non-legal technicians.
Arbitration is a confidential procedure. Decisions and the identity of the parties may only be disclosed with the authorization of the parties. The sessions promoted by the court are not public.
The Arbitration is a quick means of resolving disputes. After the constitution of the court, the decision must be rendered in the maximum period of 90 days, which may be extended by agreement of the parties.
Effective and safe procedure
The effectiveness of arbitration results from the fact that the decisions rendered by the arbitral tribunal have the same binding force of the decisions of the Courts of First Instance and can be enforced when not complied with.
Security arises from the fact that the Arbitration Court's decisions may be based on independent expert reports or technical opinions and can be appealed, in the same terms as the decisions of the judicial courts.