UNIVERSIDAD EAN

IBL
ARBITRATION QUIZ NOV 2020
Worth 7.5
Name Andrea Acosta

Dear students
Please respond these questions based on class seen teaching material

1. Are Arbitration protocols part of the Colombian Legal System? Yes? No?
Why? Why not?
Yes, because it has law 1563 of 2012 that has local harmonization articles based
on the uncitral law.
2. Is Arbitration a binding process? Briefly explain

Yes, because it seeks a way for the parties to reconcile through the court
3. The agreement resulting from ADR procedures is in the nature of
Mediate, negotiate, conciliate, minitrial and do it through a panel of
experts
4. What is the importance of being a signatory country of the New York
convention?
The importance is that it allows them access to international courts and also
make use of all international judgments, and recognize the difference between
arbitration agreements and awards made abroad.

5. Why did Colombia partially harmonize UNICITRAL Model Law?

Because Colombia wanted to define parameters to carry out an arbitration