On May 2, 2012, Georgia Governor Nathan Deal signed S.B. 383, replacing Part 2 of the Georgia Arbitration Code pertaining to international transactions with a new Georgia International Commercial Arbitration Code, O.C.G.A. § 9-9-20, et seq. The stated purpose of the new statute “is to encourage international commercial arbitration . . . to enforce arbitration agreements and arbitration awards, to facilitate prompt and efficient arbitration proceedings . . . and to provide a conducive environment for international business and trade.” The new law will apply to international arbitration agreements entered into on or after July 1, 2012.
King & Spalding Partner Meghan Magruder and Counsel Shelby Guilbert assisted in the drafting of Georgia’s new law, which is based largely on the 1985 United Nations Commission on International Trade Law (UNCITRAL) Model Law, as amended in 2006. In adopting the Model Law, Georgia now joins over fifty civil and common law jurisdictions around the world that have adopted some version of the Model Law. Georgia’s adoption of the 2006 Model Law amendments will ensure greater uniformity and predictability to international businesses that choose to arbitrate their disputes in Georgia. Georgia’s new law also incorporates several non-UNCITRAL provisions that represent international best practice, including...
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