Arbitration

Decree Law 5 of July 8, 1999 establishes the rules and guiding principles that govern all arbitration proceedings in the Republic of Panama.

This regulation also provides that the parties, based on the principle of autonomy of the will, can elucidate their disputes, under the rule of widely recognized international arbitration rules.

Examples of these rules frequently applied in Panamanian arbitral tribunals are the arbitration rules of the International Court of Arbitration of the International Chamber of Commerce, the Unidroit rules, those of the CIAC.

Our Firm is in favor of submitting disputes arising as a result of a commercial relationship, as far as possible, to arbitration procedures, this for the reason that they have the advantage of substantially reducing the term of duration required to settle conflicts in the judicial sphere.