The major changes seen in arbitration practice across the globe have recently been addressed in Denmark with the enactment of a new Arbitration Act, which came into force on 1 July this year. A new and modern approach was much needed in view of international developments since the early 1970s.
There was a need for a set of rules which could address all the questions that may arise during arbitration, such as the enforceability of arbitration agreements, composition of arbitral tribunals, security and costs, and recognition and enforcement of awards.
