COMMENTS ON VENEZUELAN ARBITRATION LAW

Diana C. Droulers

  1. GENERAL

SOURCES & SCOPE: Venezuela adopted its Arbitration Law in 1998 (Ley de Arbitraje Comercial). It applies to all commercial arbitration procedures, domestic and international, that take place in Venezuela, including all disputes arising out of contracts or relations of commercial nature.
The LAC is an adaptation of the UNCITRAL model Law, with influence from Colombian laws and additions made by Congress.

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