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Part 2 Specific Issues of Arbitration in Brazil, 16 Commercial Contracts »

José Antonio Fichtner, André Luís Monteiro, Marcela Levy
From: International Arbitration: Law and Practice in Brazil
Edited By: Peter Sester
This chapter highlights arbitration involving commercial contracts in Brazil. Commercial contracts are contracts signed between two entrepreneurs who are running commercial enterprises. Classic examples of commercial contracts are construction contracts, insurance contracts, shipping contracts, loan agreements between companies and banks, franchise agreements, software license agreements, and contracts for international sales of goods. Brazilian courts understand that, in general, there is no room for judicial intervention in commercial contracts, which gives the parties broad autonomy to negotiate their contractual provisions. The chapter then issues related to arbitration clauses included in commercial contracts: formal requirements, choice of law, and arbitrability. It also considers specific substantial aspects of commercial contracts: the impact of good faith on the performance of the contracts; the validity of limitation of liability clauses; the validity of liquidated damages clauses; and remedies for breach of contracts.