Maryland's International Commercial Arbitration Act: Business Opportunities
Maryland Bar Journal, Vol. 25, No. 5, pp. 24-28, September/October 1992
6 Pages Posted: 23 Oct 2010
Date Written: September/October 1992
In 1990 Maryland enacted the Maryland International Commercial Arbitration Act, Md. Cts. & Jud. Proc. Code Ann. §§ 3-2&01 to 09, statute dealing with international commercial arbitration's within the State of Maryland. Uniquely in the United States, the Act precludes the application of state law to international commercial arbitration's within the state, making federal law the sole applicable body of law.
The purpose of the Act is to make Maryland an attractive site for international commercial arbitration's - attractive both to Maryland-based businesses involved in international business transactions and to other U.S. or foreign-based businesses looking for a US. site for international arbitration's. To this end, the Act makes only one body of law-uniform federal law-applicable to the process and enforcement of international commercial arbitration's in Maryland; thus it should eliminate any argument that Maryland law applies to the process and enforcement of international commercial arbitration in the state. This will add certainty and uniformity to the business and legal climate for international arbitration's held here.
Keywords: Maryland law, international commercial arbitration, federal law, foreign-based businesses, international trade, Maryland International Commercial Arbitration Act, Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1925 Federal Arbitration Act (FAA), Uniform Arbitration Act
JEL Classification: K19, K29, K33, K39
Suggested Citation: Suggested Citation