Center of Arbitration of the Chamber of Commerce of Lima

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==General Information==
==General Information==
* Official name: Center of Arbitration of the Chamber of Commerce of Lima
* Official name: Center of Arbitration of the Chamber of Commerce of Lima

Current revision as of 17:38, 2 June 2010


[edit] General Information

  • Official name: Center of Arbitration of the Chamber of Commerce of Lima
  • Country: Peru
  • City: Jesús María
  • Type of organization: non-profit organization
  • Date of creation: 1993
  • Interests: Arbitration - Negotiation
  • Fields of expertise: Commercial Disputes

[edit] Description

The Center of Arbitration of the Lima Chamber of Commerce was founded in 1993. It is Peru's most important and experienced institution in managing arbitrations.

Its objective is to contribute in settling disputes by establishing a framework and promoting, facilitating, improving, and disclosing arbitration as an alternative and secure mean.

The Center of Arbitration of the Lima Chamber of Commerce was established in response to the challenges presented by the economic phenomenons characteristic of a global market where enterprises and traders look to resolve their disputes with celerity, efficiency, and privacy. In accordance to this endeavor the proper background was taken into consideration by the Lima Chamber of Commerce at the time of its establishment in 1888 to handle and resolve disputes; currently they have handled disputes totaling an amount greater than 1,200 million Dollars.

In thirteen years of intense and fruitful work more than 1200 arbitration proceedings have been submitted to the Arbitration Center, this represents approximately 90% of all the arbitration cases handled nationwide.

[edit] Mission

Insure the correct implementation of Arbitration Regulations and to offer the necessary administration services to provide an efficient organization and operation of all arbitration proceedings within the Center.

[edit] Vision

Become the leading institution in Latin America to resolve disputes through the use of arbitration as an alternative vehicle.

[edit] Duties

Ensure arbitrations are organized faster than the traditional justice system, executing each arbitration procedure with the operating celerity users require.

Likewise, the Center ensures impartiality, transparency and confidentiality in handling the information entrusted to us, that is, strictly in compliance with ethical principles.

For this purpose, the Center has modern regulations, effective from January 1, 2007, which guarantee the application of the appropriate instruments between the parties and the arbitrators to reach an arbitration process with the characteristics mentioned above.

[edit] Services

The Arbitration Center of the Lima Chamber of Commerce offers all the necessary services for an efficient administration and organization of arbitration:

  • The immediate processing of all parties documents from the moment the arbitration demand is admitted until the official notification of the arbitration award, providing counseling and assistance in the development of the arbitration process.
  • To appoint the arbitrators at the parties request and resolve any circumstances resulted from said designations.
  • The surveys and reports related to arbitration matters nationwide and internationally, as well as, the proposals to improve alternative mechanisms in order to resolve disputes.
  • Activities to divulge and provide training in relation to alternative mechanisms that allow you to resolve disputes.
  • Specialized consultation, research, development, and publications related to alternative methods to resolve disputes approaching in a special manner the arbitration aspects.
  • Excellent Infrastructure, The Center has elegant and comfortable court rooms as well as modern technology to satisfy the most discerning requirements.
  • A virtual system to monitor the arbitration cases, permits all parties and the arbitrators to follow the development of their arbitration proceedings through the internet and in real time.

[edit] Benefits provided by the Arbitration Center

  • Rate of Progress. The average rate for an arbitration process is seven times faster than a legal proceeding (from 7 to 9 months versus 3 to 5 years).
  • Unbiased and self-reliant. The Center has skilled public officials in the development of arbitration proceedings, as well as a list of specialized arbitrators whose duty is to declare any conflict when accepting their position. Additionally there is a "former phase" designed to encourage negotiation and reconciliation between the parties in order to cut down costs in reaching a solution of the conflict.
  • Affordability and Forecasting. The system permits the parties to have complete knowledge of the arbitration cost; this cost in turn is related to the amount in dispute. To that effect the Center has administrative and arbitration cost tables, in contrast to a legal proceeding where one never knows when it will conclude or the total cost in time and money.
  • Privacy. From the beginning, all cases are managed with absolute discretion by specialized arbitrators and the personnel at the Center. The Arbitration Regulations contemplate privacy norms to which all parties, their representatives, counselors, lawyers and any third party who becomes acquainted with the case have to abide by.
  • Effectiveness and Satisfaction. From more than 1,200 managed cases by the Center only three arbitration awards have been set aside by the Judiciary Power, this confirms the reliability and soundness in the settlement reached by the arbitrators, aside from the fact that degree of the voluntary fulfillment of the settlement reached by the arbitrators is extremely high

[edit] Private Justice: A modern alternative

Arbitration is an alternative to the Judiciary power. It is a private mean to resolve disputes where a third party and a specialist in the matter, either as an individual or in joint effort (as a sole arbitrator or in an arbitration court) resolves a dispute through an arbitral award which is definite and final.

The Arbitration Center of the Lima Chamber of Commerce has a modern regulation which provides a quick and efficient mean to conduct all arbitration proceedings. The new Arbitration Regulations are in effect since January 1st 2007, they are formed by the Center's By-Laws, the Ethics Code, the arbitration proceeding regulation, and the Tariffs Regulation. This regulating body offers the center's users the adequate guaranty for a quick, clear, efficient, and predictable process.

[edit] Contact

Direction: Av. Giuseppe Garibaldi Nº 396 – Jesús María – Peru

Tel: 463-3434 annexes 546

Fax: 460-2055


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