International Commercial Arbitration at Honduras
Here’s a concise overview of International Commercial Arbitration in Honduras:
International Commercial Arbitration in Honduras
1. Legal Framework:
Arbitration in Honduras is governed by the Honduran Arbitration Law, which is based largely on the UNCITRAL Model Law on International Commercial Arbitration.
Honduras is a party to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, facilitating enforcement of arbitral awards internationally.
The Arbitration Law regulates both domestic and international arbitration.
2. Arbitration Institutions:
Honduras has its own arbitration institutions, such as the Centro de Arbitraje y Mediación de la Cámara de Comercio e Industria de Tegucigalpa (Arbitration and Mediation Center of the Tegucigalpa Chamber of Commerce and Industry).
Parties may also agree to use international arbitration institutions like ICC, LCIA, or others.
3. Arbitration Agreement:
Arbitration must be based on a written arbitration agreement or clause in the contract.
The agreement can specify the seat of arbitration, procedural rules, number of arbitrators, and language.
4. Seat of Arbitration:
The seat of arbitration determines the procedural law and supervisory court jurisdiction.
Tegucigalpa is the common seat within Honduras, but parties can choose another place if agreed.
5. Court Support & Supervision:
Honduran courts respect arbitration agreements and will generally enforce them.
Courts may assist with interim measures but usually do not interfere with arbitration proceedings.
6. Recognition and Enforcement:
Arbitral awards are enforceable under the New York Convention.
Courts can enforce both domestic and foreign arbitral awards in Honduras.
7. Advantages:
Arbitration offers a neutral, efficient forum for resolving commercial disputes.
The legal framework supports party autonomy and procedural flexibility.
Enforcement of awards is supported under international treaties.
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