Update on the Netherlands Commercial Court
As we have previously informed you, the Netherlands Commercial Court (NCC) is being set up in Amsterdam to deal with international business disputes. This court will provide parties with the opportunity to litigate in English and it will render judgments in English within a civil law jurisdiction, in a prime location for business.
Senate approval and start of the NCC
This week, the Senate (Eerste Kamer) unanimously approved the bill to establish: (i) the international trade chamber of the Amsterdam District Court (NCC District Court) and (ii) the international trade chamber of the Amsterdam Court of Appeal (NCC Court of Appeal). The NCC legislative process is now close to completion.
The final step is for the Minister of Justice and Security to issue a decree for the NCC legislation to enter into force. This is expected to follow soon. After that, the NCC will officially open its doors in the beginning of 2019. In anticipation thereof, the NCC Team has attended various international meetings and conferences to inform relevant parties about the NCC and the possibility to settle international business disputes in the Netherlands.
The NCC will only deal with cases if the parties decided to bring their international business dispute before this court. Parties can do so at the time any dispute arises and in advance by including the NCC choice-of-court clause in contracts they enter into.
NCC as viable alternative
Given that the court system of the Netherlands is widely considered to be one of the most efficient and reliable court systems in the world, the NCC may be a viable alternative to commercial courts elsewhere and international arbitration (including setting aside and enforcement of arbitral awards). Judgments rendered in the Netherlands can be executed throughout the EU without the need of judicial consent in the country of enforceability. Furthermore, the NCC will charge low, upfront fixed court fees.
Should you have any questions, comments or require further information regarding the NCC, please do not hesitate to contact us.