Repealed - By Which International Arbitration Is Regulated And Other Provisions

Original Language Title: DEROGADO - Por la cual se regula el arbitraje internacional y se dictan otras disposiciones

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LAW 315
1996 (September 12)
Official Gazette No. 42878 of September 16, 1996

By which international arbitration is regulated and other provisions. Summary

Term Notes

THE CONGRESS OF COLOMBIA DECREES:
ARTICLE 1o. DETERMINING CRITERIA. It will be international arbitration if the parties so there Were agreed, provided that it also comply with any of the following events:
1. The parties, the time of the conclusion of the arbitration agreement, are domiciled in different states.
2. The place of performance of that substantial part of the obligations directly linked to the subject of the dispute lies outside the State in which the parties have their primary residence.
3. When the place of arbitration is outside the State in which the parties have their domiciles, where such an eventuality has been agreed in the arbitration agreement. Effective Jurisprudence


4. When the subject matter of the arbitration agreement clearly link the interests of more than one State and the parties they have so expressly agreed.
5. When the dispute submitted to arbitration directly and unequivocally affect the interests of international trade.
PARÁGRAFO. In the event that there still arbitration agreement either party decides to sue its claim in the ordinary courts, the defendant may raise the objection of lack of jurisdiction only prove the existence of the arbitration agreement. Effective Notes

Article 2.
. STANDARDS APPLICABLE TO INTERNATIONAL ARBITRATION. International arbitration is governed in its entirety in accordance with the rules of this law, in particular the provisions of the Treaties, Conventions, Protocol and other acts of signed international law and ratified by Colombia, which prevail over the rules on the subject are set out in the Code of Civil Procedure. In any case, the parties are free to determine the applicable substantive rule under which the arbitrators must resolve the dispute. They may also directly or by reference to arbitration rules, determine all matters relating to arbitration proceedings including the convocation, constitution, processing, language, designation and nationality of arbitrators and the seat of the Tribunal, which may be in Colombia or in a foreign country. Effective Notes


ARTICLE 3. FOREIGN ARBITRATION AWARD - CONCEPT. Everything is foreign arbitration award utters by a court whose headquarters is outside the national territory. Effective Notes


ARTICLE 4. The last paragraph of Article 70 of Law 80 of 1993 will read:
In contracts with foreign people, as well as those with national person, and in which funding is anticipated long-term and payment systems thereof by the operation of the constructed object or operation of goods for holding a public service, may be agreed that differences arising contract are subject to the decision of an International Arbitral Tribunal. Effective Jurisprudence


The 5th ITEM. VALIDITY. This Law governs from its publication and repeals all rules that are contrary.
The President of the honorable Senate, JULIUS CAESAR WAR Tulena

The Secretary General of the honorable Senate, PUMAREJO VEGA PEDRO

The President of the honorable House of Representatives,

Rodrigo Rivera Salazar Secretary General of the honorable House of Representatives, DIEGO VIVAS TAFUR

REPUBLIC oF COLOMBIA - NATIONAL GOVERNMENT
published and execute.
Given in Santa Fe de Bogota, DC, 12 September 1996.

Ernesto Samper Pizano Minister of Foreign Affairs, Maria Emma Mejia
VÉLEZ.
The Minister of Justice and Law, CARLOS EDUARDO MEDELLIN BECERRA
.