Written by: Daniel Posse and Carolina Posada.
LATINLAWYER Reference – Arbitration 2008Which legislation governs the enforcement of international commercial arbitration awards and arbitral agreements in international business contracts, and international commercial arbitration proceedings?
In Colombia, the enforcement of international commercial arbitration awards and arbitral agreements in international business contracts and international commercial arbitration proceedings are governed by Law 315 of 1996 and by Decree 1818 of 1998.
Despite the fact that Law 315/1996, which governs international arbitration, was supposed to be based on the UNCITRAL Model Law, there are significant differences between the governing law and the Model Law. In this sense, Law 315 only includes the following matters…
