International Commercial Arbitration at Bolivia
Here’s an overview of International Commercial Arbitration in Bolivia, focusing on the legal framework, institutions, and enforcement:
⚖️ International Commercial Arbitration in Bolivia
1. Legal Framework
Bolivia’s arbitration law is primarily governed by the Law No. 708 of 2016 (Ley de Arbitraje), which regulates domestic and international arbitration.
The law is modeled on the UNCITRAL Model Law on International Commercial Arbitration (1985) with some local adaptations.
Bolivia is a party to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, facilitating enforcement of international arbitral awards.
2. Scope and Applicability
The law applies to arbitration agreements and proceedings related to commercial disputes.
Arbitration agreements must be in writing.
Parties are free to choose the arbitration rules, seat, and language.
3. Arbitral Institutions
Bolivia has an institutional framework for arbitration, including:
The Bolivian Arbitration and Conciliation Center (Centro Boliviano de Arbitraje y Conciliación - CBAC), a prominent arbitration institution.
Parties may also choose to arbitrate ad hoc or under international rules such as:
ICC Arbitration Rules
UNCITRAL Arbitration Rules
4. Arbitration Procedure
The law allows parties to appoint arbitrators or have them appointed by the court or arbitration institution.
Arbitration proceedings should be conducted fairly, with equal treatment of parties.
The law supports confidentiality, interim measures, and enforcement of awards.
5. Recognition and Enforcement
Bolivia recognizes and enforces foreign arbitral awards under the New York Convention.
Domestic courts generally uphold arbitration agreements and enforce awards, subject to limited grounds for refusal, such as:
Public policy violations
Procedural irregularities
6. Judicial Support
Courts provide support for arbitration by enforcing arbitration agreements and assisting in arbitrator appointment.
Judicial intervention is limited to preserve party autonomy.
Courts can annul arbitral awards only on specific statutory grounds.
Summary
Bolivia has a modern arbitration framework aligned with the UNCITRAL Model Law, supported by an active arbitration institution (CBAC) and enforcement under the New York Convention. It offers parties flexibility, procedural fairness, and international enforceability.
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