Changes have been made to the way that complaints are made and to testing, the time to respond to claims and counterclaims as well as the rules in order to incorporate third parties into the arbitral process.
From a statement issued by the Chamber of Commerce, Industries and Agriculture of Panama:
Panama, June 12, 2015.- The Center for Conciliation and Arbitration of Panama (CECAP), hosted by the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) held the official launch of the New Arbitration Rules A contribution to the administration of justice which will run from August 1 this year.
Both countries have already submitted formal documents in which Costa Rica denounces the non-application of tariff preferences on juices and tires exported to El Salvador under the CAFTA agreement.
Now that the formal documents have been presented, representatives from the governments of Costa Rica and El Salvador will await resolutions and new dates to proceed with the arbitration.
Arbitration experts from 23 countries will meet from 23 to 25 February in San Jose, Costa Rica.
From 23 to 25 February, arbitration experts from 23 countries will meet in Costa Rica which will host the V International Arbitration Congress, entitled: "International Arbitration: Challenges and Trends".
Those attending the event, which will be held at the Real Intercontinental Hotel, will hear about "trends that have developed in international practice."
With this legislation, the country will be able to develop a new business sector and establish itself as an international center for arbitration.
Recently, the country approved a law to regulate domestic and international arbitration. This will allow Panama to position itself as an international arbitration center, thanks to its logistics development, infrastructure and connectivity.
Putting a trade dispute in the hands of conciliation tribunals and private arbitration is not quite as convenient as it may seem at first glance.
Jerry Ten Brink, in an article in Elfinancierocr.com analyzes the common practice among businesses of establishing the jurisdiction of a private tribunal in resolving disputes which may arise.
Ten Brink points out, among some of the problems that can be incurred in this practice, the high cost of these justice services, latent conflicts of interest among judges, the acting lawyers and the parties involved in the conflict, lack of transparency for procedures, and the lack of a "second instance".
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.
An article in Elfinancerocr.com reported that "The new center joins existing ones in the country, such as those located in the Costa Rican Chamber of Commerce, the Federated College of Engineers and Architects and the Costa Rican North American Chamber of Commerce (AmCham). "
The Chamber of Commerce (ICC) has launched a new version of the rules of arbitration, which will become effective from the first of January 2012.
The new version aims to improve the current and future needs of companies and governments involved in trade.
The Arbitration Rules 2012 remains true to the values and preserves the essential characteristics of ICC arbitration, while adding new provisions to address such topics as contracts and disputes involving multiple parties, updating procedures for
The law enhances competitiveness and promotes a business climate in the country, says the government.
In order to strengthen legal certainty in the country and provide greater choices for enterprises to resolve trade disputes, the Government has approved the Law on International Arbitration, which shall take effect upon publication in the official newspaper La Gaceta.
The proposed International Commercial Arbitrage bill looks to provide a secure judicial framework for settling international disputes.
If it is passed by the Legislative Assembly, the country will be enabled to handle international arbitrage processes. Currently, Costa Rican arbitrage centers may only handle national disputes.
Elfinancierocr.com reports: "Arbitrage centers handle dispute settlement faster and more efficiently than national courts, but they only apply if both parts previously agreed on using them".
Throughout the region, arbitration and conflict resolution laws recognize and reflect the fundamental principle of "judicial assistance."
Part 2 of the analysis by Álvaro Castellanos Howel in an article published in the blog section of Eleconomista.net insists on the idea that judges should be limited to serve as assistants in the processes of private arbitration.
The region already has rules for arbitration and other alternative methods for conflict resolution that are in line with international standards regarding arbitration.
The analysis of Álvaro Castellanos Howel in the article published in the Eleconomista.com Blogs section focuses on the need for the state judicial system to understand its role in assisting and working with arbitration and dispute resolution systems.
Lecturers and participants from 14 Latin American countries attend arbitration congress.
Panama has made important steps in matters of arbitration regarding a law dating back to 1999 which was included in the latest constitutional reform carried out in 2004.
The country has the largest maritime center in the world and any discrepancies between shipping agents and businesses may be resolved in Panama instead of turning to a court in London, Paris or New York.
Salvadorean businessmen fear that a proposed change in the arbitration law might place in danger judicial security and the arrival of investment in their country.
"The deputies take two years to pass a law that encourages economic development of the country and two hours to consider one that's going to ... undermine judicial security," said Jorge Daboub, president of the national Chamber of Commerce.
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