Lex Mundi Global Arbitration Institutions Guide |
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Venezuela |
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(Latin America/Caribbean)
Firm
LEGA
Contributors Updated 06 Sep 2018 |
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| Name of Arbitral Institution; with abbreviation, if any. | Centro de Arbitraje de la Cámara de Caracas ("CACC") |
| Where is the seat of the Arbitral Institution? | Caracas |
| Is there an umbrella organization for the Arbitral Institution? | Cámara de Caracas (Caracas´Chamber of Commerce) |
| How is the Arbitral Institution structured? | Excecutive Committee, Executive Directorate |
| Is there a compulsory list of arbitrators that parties are required to choose from? | No, but there is a list of arbitrators. |
| Can the place of arbitration freely be chosen by the parties? Is there a default place of arbitration? | Yes, parties a free to choose the place of the arbitration. Caracas is the default place of arbitration. |
| What is the average cost of an arbitration in the following cases? 1 arbitrator, amount in dispute = $1 million | The fees of the arbitrator should not exceed of $17.500 and the registration fee $15.000 |
| What is the average cost of an arbitration in the following cases? 3 arbitrators, amount in dispute = $10 million | The fees of the arbitral tribunal should not exceed of $225.000 and the registration fee $35.000 |
| What is the average cost of an arbitration in the following cases? 3 arbitrators, amount in dispute = $100 million | The fees of the arbitral tribunal should not exceed of $450.000 and the registration fee $50.000 |
| Who pays advances on costs? What happens in the event of default? | Each party pays 50% of the costs of the arbitration. If a defendant does not pay its share, a claimant is obliged to pay the costs in full or the case will be closed for lack of payment. |
| Does the Arbitral Institution have formalistic procedures (e.g. terms of reference) that must be complied with? If so, which ones? | The CACC Rules include the terms of reference. Also, the Executive Director must accept a application for arbitration by confirming that it fulfills the requirements of the CACC Rules. Finally, the CACC Rules provide for a hearing for the Constitution of the Arbitral Tribunal. |
| Which languages can be used for communication with the Arbitral Institution? | The default language is Spanish, but the parties are allowed to choose any other language. |
| Who is the main point of contact for the parties within the Arbitral Institution? | The main point of contact for parties is the Executive Director. |
| Are there restrictions on the language that the arbitration may be conducted in? | No |
| Who appoints substitute arbitrators? | The Executive Committee will be the appointing authority in case the parties do not nominate an arbitrator or do not agree on a joint nomination as the case may be. |
| Are there specific regulations for multi-party arbitrations or joinders to the proceedings? | There are regulations for multi-party arbitrations, particularly for the nomination of arbitrators. |
| Are oral hearings compulsory? | The hearing for the constitution of the arbitral tribunal is the only compulsory oral hearing. |
| What are common evidence-taking practices? | Documentary evidence is normally accepted in copies and even in electronic format. If one of the parties challenge the validity of a document, the original or certified copy should be provided. Witnesses are usually interrogated by both parties before the arbitrators in a hearing. It is also accepted under the agreement of the parties, that the witness produces a written statement and then he/she will be cross-examined. The use of technology for the interrogation of witnesses must be allowed by the arbitrators. All hearings are recorded in video. |
| What is the average duration of arbitration proceedings? | A standard arbitral proceeding should not exceed 1 year and 6 months. |
| What is the timeframe for rendering the award? | 6 months from the date of the Terms of Reference. |
| Are extensions to time limits permissible? | Yes, the Executive Director is empowered to extend the time limit for the arbitrators to render the award. |
| Can the arbitral tribunal impose interim measures? Is there a competing competency of the ordinary courts with regard to interim measures? | The arbitral tribunal is empowered to impose interim measures. The courts have no competency to order interim measures after reconstitution of the arbitral tribunal. |
| Do the institutional rules provide for an emergency arbitrator? | Yes. |
| 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? | Arbitral awards are not subject to scrutiny. |
| Do costs necessarily follow the event? | Costs are allocated by the arbitral tribunal at its discretion. |
| 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? | Yes, Venezuelan courts are allowed to set aside an arbitral award rendered in Venezuela. The grounds for nullity correspond to the reasons for denial of enforcement according to the New York Convention. |
| Link to institutional rules | http://arbitrajeccc.org/arbitraje/wp-content/uploads/2014/07/RGCACC-ing.pdf |
| Link to model clause |
Lex Mundi Global Arbitration Institutions Guide
Centro de Arbitraje de la Cámara de Caracas ("CACC")
Caracas
Cámara de Caracas (Caracas´Chamber of Commerce)
Excecutive Committee, Executive Directorate
No, but there is a list of arbitrators.
Yes, parties a free to choose the place of the arbitration. Caracas is the default place of arbitration.
The fees of the arbitrator should not exceed of $17.500 and the registration fee $15.000
The fees of the arbitral tribunal should not exceed of $225.000 and the registration fee $35.000
The fees of the arbitral tribunal should not exceed of $450.000 and the registration fee $50.000
Each party pays 50% of the costs of the arbitration. If a defendant does not pay its share, a claimant is obliged to pay the costs in full or the case will be closed for lack of payment.
The CACC Rules include the terms of reference. Also, the Executive Director must accept a application for arbitration by confirming that it fulfills the requirements of the CACC Rules. Finally, the CACC Rules provide for a hearing for the Constitution of the Arbitral Tribunal.
The default language is Spanish, but the parties are allowed to choose any other language.
The main point of contact for parties is the Executive Director.
No
The Executive Committee will be the appointing authority in case the parties do not nominate an arbitrator or do not agree on a joint nomination as the case may be.
There are regulations for multi-party arbitrations, particularly for the nomination of arbitrators.
The hearing for the constitution of the arbitral tribunal is the only compulsory oral hearing.
Documentary evidence is normally accepted in copies and even in electronic format. If one of the parties challenge the validity of a document, the original or certified copy should be provided. Witnesses are usually interrogated by both parties before the arbitrators in a hearing. It is also accepted under the agreement of the parties, that the witness produces a written statement and then he/she will be cross-examined. The use of technology for the interrogation of witnesses must be allowed by the arbitrators. All hearings are recorded in video.
A standard arbitral proceeding should not exceed 1 year and 6 months.
6 months from the date of the Terms of Reference.
Yes, the Executive Director is empowered to extend the time limit for the arbitrators to render the award.
The arbitral tribunal is empowered to impose interim measures. The courts have no competency to order interim measures after reconstitution of the arbitral tribunal.
Yes.
No.
Arbitral awards are not subject to scrutiny.
Costs are allocated by the arbitral tribunal at its discretion.
Yes, Venezuelan courts are allowed to set aside an arbitral award rendered in Venezuela. The grounds for nullity correspond to the reasons for denial of enforcement according to the New York Convention.