While it appeared that the reform of the arbitration law would not be completed within the current legislative period, the legislative process will now continue.
The Parliamentary Committee for Legal Affairs will discuss the Federal Government's Bill on the Modernisation of Arbitration Law in a two-hour public hearing on Wednesday, 4 December 2024, 1 pm, which will be streamed live here.
The Act on the Modernisation of Arbitration Law is intended to adapt this area of law to modern needs, to increase its efficiency and to enhance Germany's attractiveness as a seat for arbitration. The DIS has been actively involved in the legislative process and has submitted constructive comments on both the white paper and the draft bill.
The DIS welcomes the modernisation of the well-established German arbitration law through a minor reform. Such a reform can not only further improve German arbitration law, but also provides an opportunity to attract more international attention to Germany as an arbitration centre. It is therefore an important building block in an overall strategy to promote Germany as an arbitration centre.
The DIS has provided resources on the draft law on the modernisation of arbitration law here.
Reinmar Wolff