This is not the first time a Brazilian Congressman has presented a bill seeking amendment or modification of the Brazilian Arbitration Act since its enactment in 2006. Although the current Act has never been modified, at least four unsuccessful bills have already been presented:

The application for the creation of the Commission was submitted by Senator Renan Calheiros (PMDB/AL), who believes this project has a different approach from the previous bills. In sum, Senator Calheiros explained that a whole new bill should be considered in order to update the rules of the Arbitration Act due to the significant growth and development of arbitration since the enactment of the Act in 1996.

The Commission will now collect suggestions from the general public and hold public hearings with interested sectors of society for the purpose of gathering information and opinions. The information gathered from that consultation will be considered by the Brazilian Arbitration Committee (Comitê Brasileiro de Arbitragem (CBAr)), which has a special committee available to provide legal assistance on the matter.

Previous bills seeking amendment or extension of the Brazilian Arbitration Act were not well received by the arbitration community, especially due to the recognised excellence of the Brazilian Arbitration Act of 1996. However, this new bill could change that impression, depending on what is proposed. In fact, whilst the draft is pending, theories as to what may be proposed are already being discussed by the arbitration community. Among many opinions, some commentators believe that, if any modification is to be made, changes could address issues such as:

Although it is still too soon to give an opinion on the Senate's initiative, it is undeniable that a new bill raises an opportunity to reaffirm the importance of arbitration to the Brazilian legal system.