Arbitration—Panama—Q&A guide [Archived]

The following Arbitration practice note provides comprehensive and up to date legal information covering:

  • Arbitration—Panama—Q&A guide [Archived]
  • 1. Is your jurisdiction a contracting state to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards? Since when has the Convention been in force? Were any declarations or notifications made under articles I, X and XI of the Convention? What other multilateral conventions relating to international commercial and investment arbitration is your country a party to?
  • 2. Do bilateral investment treaties exist with other countries?
  • 3. What are the primary domestic sources of law relating to domestic and foreign arbitral proceedings, and recognition and enforcement of awards?
  • 4. Is your domestic arbitration law based on the UNCITRAL Model Law? What are the major differences between your domestic arbitration law and the UNCITRAL Model Law?
  • 5. What are the mandatory domestic arbitration law provisions on procedure from which parties may not deviate?
  • 6. Is there any rule in your domestic arbitration law that provides the arbitral tribunal with guidance as to which substantive law to apply to the merits of the dispute?
  • 7. What are the most prominent arbitral institutions situated in your jurisdiction?
  • 8. Are there any types of disputes that are not arbitrable?
  • 9. What formal and other requirements exist for an arbitration agreement?
  • More...

Arbitration—Panama—Q&A guide [Archived]

ARCHIVED: This Practice Note has been archived and is not maintained.

This Practice Note contains a jurisdiction-specific Q&A guide to arbitration in Panama published as part of the Lexology Getting the Deal Through series by Law Business Research (published: January 2021).

Authors: Patton Moreno & Asvat—Ebrahim Asvat; Joaquín De Obarrio

1. Is your jurisdiction a contracting state to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards? Since when has the Convention been in force? Were any declarations or notifications made under articles I, X and XI of the Convention? What other multilateral conventions relating to international commercial and investment arbitration is your country a party to?

Yes. The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 was incorporated into Panama’s Judicial Code through Law No. 5 of 25 October 1983, and Law No. 131 of 31 December 2013 on domestic and international commercial arbitration in Panama.

Panama has also adopted the Code of International Private Law, known as the Bustamante Code, incorporated through Law No. 15 of 26 September 1928, namely articles 423 to 433, as well as the Inter-American Convention on International Commercial Arbitration (the Panama Convention) from the Organization of American States of 30 January 1975, incorporated through Law No. 11 of 23 October 1975.

2. Do bilateral investment treaties exist with other countries?

Yes. Twenty-two

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