25 and enforcement of arbitral awards. Such principals are adopted across European jurisdictions, providing a uniform framework for international commercial arbitration. The New Law closely aligns with European arbitration models yet introduces certain tailored provisions to address specific local needs, particularly in areas such as the appointment of arbitrators, interim measures and the enforcement of arbitral awards. Conclusion The New Law marks a significant step in aligning Israel’s arbitration framework with international standards. Replacing the outdated Arbitration Law of 1968, the New Law incorporates principles from the UNCITRAL Model Law and the New York Convention, empowering Israel with modern tools for resolving cross-border commercial disputes. The New Law bolsters confidence in Israel’s ability to sustain stable business operations, offering a reliable and advanced legal framework that enhances its appeal to international investors. Compared to arbitration laws in jurisdictions like the United States and Europe, the New Law blends global principles with unique adaptations. Complementary initiatives, such as adopting online arbitration platforms, further aim to position Israel as a global hub for commercial dispute resolution. As outlined in the explanatory notes to the New Law, any ambiguities in its provisions will be interpreted in alignment with international legal standards rather than Israeli law. This approach aims to ensure uniform application of the New Law and strengthen its global relevance. The New Law is expected to enhance the integration of Israeli businesses into the international market while significantly reducing costs associated with resolving cross-border disputes. The New Law is expected to strengthen economic stability, trust among international businesses, and establishes Israel as a leading player in the global arbitration landscape. It supports the growth and global competitiveness of Israeli businesses while reaffirming Israel’s commitment to fairness, efficiency, and integrity in dispute resolution.
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