The "I Forum on Investment Arbitration: the Panama Phenomenon, Latin American perspectives" and the "III International Congress on Alternative Methods" have the objective to promote Panama as the investment destination, and at the same time to help to consolidate the country as the international epicenter for managing conflict solution using negotiation, mediation and arbitration.

Source: pa-digital.com.pa

More on this topic

Conciliation and Arbitration Centers in Costa Rica

March 2013

While conventional courts take between 4 and 7 years to rule on a case, conciliation and arbitration centers do so in between 8 and 10 months.

The country currently has 15 centers and 17 Justice Houses of a public nature for alternative dispute resolution.

One example is the Alternative Justice Center created by the Lawyer's Association of Costa Rica, in January 2012, which in less than a year has resolved between 28 and 30 processes of conciliation and arbitration. However, it took 8 years to enter into play with other organizations who had already been in operation for over a decade, and are authorized by the State to conciliate and arbitrate conflicts.

State of Guatemala Wins Arbitration Against Iberdrola

August 2012

The International Centre for Settlement of Investment Disputes (ICSID) of the World Bank, has ruled against the claim of the Spanish company Iberdrola against the State of Guatemala.

The lawsuit filed by Iberdrola, a major shareholder and operator of the Empresa Electrica de Guatemala (EEGSA), in late 2009, was due to a disagreement on the rate of Value Added Distribution (VAD), in force since August 2008.

Center for Alternative Dispute Resolution

December 2011

The Lawyers Association of Costa Rica has opened a mediation or arbitration center, which can be used for work, family, commercial or civil conflicts.

Covered by the Law on International Commercial Arbitration May 2011, the Center for Alternative Justice and Lawyers Bar Association of Costa Rica also aims to host international arbitration.

Dominican Republic Agrees to Arbitration with Costa Rica

May 2010

Dominican Republic agreed to enter an arbitration process with Costa Rica over a tariff conflict.

The Industry and Commerce Ministry of Dominican Republic issued a press release in which it agrees to the process, to “solve a conflict created by tariffs charged on Costa Rican electric conductors”.