Lex Mundi Global Arbitration Institutions Guide |
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Panama |
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(Latin America/Caribbean)
Firm
Arias, Fábrega & Fábrega
Contributors
Claudio De Castro |
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| Name of Arbitral Institution; with abbreviation, if any. | Centro de Conciliación y Arbitraje de Panamá ("CeCAP"). |
| Where is the seat of the Arbitral Institution? | City of Panama, Republic of Panama. |
| Is there an umbrella organization for the Arbitral Institution? | The Chamber of Commerce, Industries and Agriculture of Panama. |
| How is the Arbitral Institution structured? | Board of Directors, Directorate and Secretariat. |
| Is there a compulsory list of arbitrators that parties are required to choose from? | The parties are not required to choose from a compulsory list of arbitrators. However, there is a list of arbitrators that the Arbitral Institution chooses from, in case the parties have agreed that the Arbitral Institution will choose the arbitrator(s) to be appointed. |
| Can the place of arbitration freely be chosen by the parties? Is there a default place of arbitration? | The place of arbitration can be freely chosen by the parties. If no place has been chosen by the parties, the default place of arbitration is the City of Panama, Republic of Panama. |
| What is the amount of the registration fee? | USD 300 plus 7% VAT. |
| What is the average cost of an arbitration in the following cases? 1 arbitrator, amount in dispute = $1 million | Total amount: USD 28,549.98 plus 7% VAT (i.e., USD 15,274.24 per party). |
| What is the average cost of an arbitration in the following cases? 3 arbitrators, amount in dispute = $10 million | Total amount: USD 115,500.00 plus 7% VAT (i.e., USD 61,792.50 per party). |
| What is the average cost of an arbitration in the following cases? 3 arbitrators, amount in dispute = $100 million | Total amount: USD 239,900.00 plus 7% VAT (i.e., USD 128,346.50 per party). |
| Who pays advances on costs? What happens in the event of default? | Both parties should pay advances of costs. In the event of default of one of the parties, the other party should pay all advances of costs. |
| Does the Arbitral Institution have formalistic procedures (e.g. terms of reference) that must be complied with? If so, which ones? | The Rules of the Arbitral Institution require a preliminary hearing for: (1) discussing any issues regarding the arbitration clause and the jurisdiction of the arbitral tribunal; (2) summarizing the requests for relief of the parties; (3) establishing the disputed facts and issues; (4) the evidence to be allowed; (5) deciding the applicable law, the language and any other matter that the arbitral tribunal considers relevant. |
| Which languages can be used for communication with the Arbitral Institution? | Spanish and English. |
| Who is the main point of contact for the parties within the Arbitral Institution? | The Director of the Arbitral Institution, Ms. Liliana Sanchez (lsanchez@panacamara.org). |
| Are there restrictions on the language that the arbitration may be conducted in? | No. |
| Who appoints substitute arbitrators? | Any substitute arbitrator shall be appointed using the same proceedings used for the appointment of the arbitrator to be substituted. |
| Are there specific regulations for multi-party arbitrations or joinders to the proceedings? | Yes. |
| Are oral hearings compulsory? | Yes. |
| What are common evidence-taking practices? | Evidence-taking is influenced by the fact that Panama is a civil law country and that there is no discovery. The common evidence-taking practices include experts witnesses reports and witness testimony. |
| What is the average duration of arbitration proceedings? | One year. |
| What is the timeframe for rendering the award? | The time frame for rendering the award is 2 months after the closing arguments. |
| Are extensions to time limits permissible? | The Arbitral Institution can grant a one-month extension, depending on the complexity of the case. |
| Can the arbitral tribunal impose interim measures? Is there a competing competency of the ordinary courts with regard to interim measures? | Both the arbitral tribunal and the ordinary courts can issue interim measures. |
| Do the institutional rules provide for an emergency arbitrator? | No. |
| Are there any specific regulations for expedited proceedings? If so, is there a deadline for rendering such an award? | No. |
| Are arbitral awards submitted for scrutiny? If so, to whom? | The awards are submitted for scrutiny to the Secretariat of the Arbitral Institution. |
| Do costs necessarily follow the event? | The allocation of costs is decided by the arbitral tribunal in the award. |
| Can an arbitral award be annulled in your jurisdiction? If yes, do the reasons for annulment in principle correspond to the reasons for denial of enforcement according to the New York Convention? | An arbitral award can be annulled in Panama. The reasons for annulment in Panama in principle correspond to the denial of enforcement according to the New York Convention. |
| Link to institutional rules | |
| Link to model clause | http://www.cecap.com.pa/index.php?option=com_content&view=article&id=107&Itemid=167 |
Lex Mundi Global Arbitration Institutions Guide
Panama
(Latin America/Caribbean) Firm Arias, Fábrega & FábregaContributors Claudio De Castro
Updated 26 Oct 2018Centro de Conciliación y Arbitraje de Panamá ("CeCAP").
City of Panama, Republic of Panama.
The Chamber of Commerce, Industries and Agriculture of Panama.
Board of Directors, Directorate and Secretariat.
The parties are not required to choose from a compulsory list of arbitrators. However, there is a list of arbitrators that the Arbitral Institution chooses from, in case the parties have agreed that the Arbitral Institution will choose the arbitrator(s) to be appointed.
The place of arbitration can be freely chosen by the parties. If no place has been chosen by the parties, the default place of arbitration is the City of Panama, Republic of Panama.
USD 300 plus 7% VAT.
Total amount: USD 28,549.98 plus 7% VAT (i.e., USD 15,274.24 per party).
Total amount: USD 115,500.00 plus 7% VAT (i.e., USD 61,792.50 per party).
Total amount: USD 239,900.00 plus 7% VAT (i.e., USD 128,346.50 per party).
Both parties should pay advances of costs. In the event of default of one of the parties, the other party should pay all advances of costs.
The Rules of the Arbitral Institution require a preliminary hearing for: (1) discussing any issues regarding the arbitration clause and the jurisdiction of the arbitral tribunal; (2) summarizing the requests for relief of the parties; (3) establishing the disputed facts and issues; (4) the evidence to be allowed; (5) deciding the applicable law, the language and any other matter that the arbitral tribunal considers relevant.
Spanish and English.
The Director of the Arbitral Institution, Ms. Liliana Sanchez (lsanchez@panacamara.org).
No.
Any substitute arbitrator shall be appointed using the same proceedings used for the appointment of the arbitrator to be substituted.
Yes.
Yes.
Evidence-taking is influenced by the fact that Panama is a civil law country and that there is no discovery. The common evidence-taking practices include experts witnesses reports and witness testimony.
One year.
The time frame for rendering the award is 2 months after the closing arguments.
The Arbitral Institution can grant a one-month extension, depending on the complexity of the case.
Both the arbitral tribunal and the ordinary courts can issue interim measures.
No.
No.
The awards are submitted for scrutiny to the Secretariat of the Arbitral Institution.
The allocation of costs is decided by the arbitral tribunal in the award.
An arbitral award can be annulled in Panama. The reasons for annulment in Panama in principle correspond to the denial of enforcement according to the New York Convention.