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IMPORT-EXPORT:
AMERICAN BUSINESS RESOURCES
Your complete guide on how to start and do business with the USA,
Central and South America. Information such as import/export regulations,
customs information, tax , currency, copyrights, etc.
BUSINESS
IN VENEZUELA
DISPUTE RESOLUTIONS
1.
International Trade Disputes
At the present time, Venezuela does not have any international disputes
pending before the International Court of Justice, although it is
a member of the United Nations. The parties to an agreement may
submit their disputes to arbitration and freely choose the rules
for arbitration which may take place either in Venezuela or abroad,
except in the case of certain matters considered as public policy
or if the controversy refers to real estate located in Venezuela.
Certain matters concerning the status of the person, divorce, or
separation of spouses may not be submitted to arbitration, as well
as other matters which may not be the object of a settlement.
The
Code of Civil Procedure also contains arbitration rules which the
parties may freely choose to rule the arbitration. The arbitration
is foreseen within the special contentious procedures established
in the Code of Civil Procedure. The controversy is comprised of
one or more arbitrators, in odd number chosen with the agreement
of the parties or, by each party and the third one, by the arbitrators
elected themselves. If there is any problem in the designation of
the third arbitrator, the designation shall be made by the court.
The arbitrators may be lawyers who are bound by legal principles
( árbitros de derecho ) and are obliged apply in their
decisions, the provisions of the law or may act with complete liberty
( arbitradores ) considering, in particular, mostly the principles
of equity and justice.
The
decision of the arbitrators is passed to the judge who elected them,
and on the day following the term for the presentation of the pertinent
recourses commences, the judge shall publish the decision including
the nullity of same based on cases provided for by the law. The
arbitration expenses are paid for by the party requesting the arbitration
without prejudice of reimbursement by the looser who may be ordered
to pay same. If there is any dispute or disagreement concerning
the arbitrator's professional fees, it shall be fixed by the competent
judge.
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