Venezuela
Latin Arbitration Law Country Profile
Arbitration Law
- Commercial Arbitration Act - 7 Apr. 1998
International Conventions
|
|
Signed |
Entered into force |
|
8 Feb. 1995 |
9 May 1995 [1] |
|
|
30 Jan. 1975 |
15 June 1985 [2] |
|
|
8 May 1979 |
30 Mar. 1985 [3] |
|
|
18 Aug. 1993 |
1 June 1995 [4] |
Investment Protection Treaties
|
Bilateral Investment Treaties [5] [6] |
Signed |
Entered into force (UNCTAD/SICE) |
Dispute Resolution Fora |
|
Argentina (Sp.) |
16 Nov. 1993 |
1 July 1995 |
Local courts ICSID ICSID Additional Facility Rules UNCITRAL |
|
15 Jul. 1994 |
31 Oct. 1995 |
ICSID ICSID Additional Facility Rules UNCITRAL |
|
|
Belarus |
8 Dec. 2007 |
13 Aug. 2008 |
|
|
Belgium and Luxembourg [7] |
17 Mar. 1998 |
29 Apr. 2004 |
|
|
Bolivia (Sp.) [8] |
Not signed |
Not in force |
Local courts ICSID ICSID Additional Facility Rules UNCITRAL |
|
4 July 1995 |
Not in force |
Local courts ICSID ICSID Additional Facility Rules UNCITRAL |
|
|
1 July 1996 |
28 Jan. 1998 |
ICSID ICSID Additional Facility Rules UNCITRAL |
|
|
Chile (Sp.) |
2 Apr. 1993 |
25 May 1995 |
Local courts ICSID |
|
Costa Rica (Sp.) |
17 Mar. 1997 |
2 May 2001 |
Local courts ICSID ICSID Additional Facility Rules UNCITRAL |
|
Cuba |
11 Dec. 1996 |
15 Apr. 2004 |
|
|
Czech Republic (Eng.) |
27 Apr. 1995 |
23 July 1996 |
ICSID ICSID Additional Facility Rules UNCITRAL |
|
Denmark (Danish/Eng.) |
28 Nov. 1994 |
19 Sept. 1996 |
ICSID ICSID Additional Facility Rules UNCITRAL |
|
Ecuador (Sp.) |
18 Nov. 1993 |
1 Feb. 1995 |
Local courts ICSID ICSID Additional Facility Rules UNCITRAL |
|
France (Fr.) |
2 July 2001 [9] |
30 Apr. 2004 |
Local courts ICSID |
|
14 May 1996 |
16 Oct. 1998 |
ICSID | |
|
Indonesia [11] |
18 Dec. 2000 |
23 Mar. 2003 |
|
|
Iran, Islamic Republic of [12] |
11 Mar. 2005 |
7 June 2006 |
|
|
Italy (Sp.) |
4 June 1990 |
14 Sept. 1993 |
Local courts ICSID ICSID Additional Facility Rules UNCITRAL |
|
Lithuania (Eng.) |
24 Apr. 1995 |
1 Aug. 1996 |
ICSID ICSID Additional Facility Rules UNCITRAL |
|
Netherlands (Eng.) |
22 Oct. 1991 |
1 Nov. 1993 [13] TERMINATED (effective 1 Nov. 2008) [14] |
ICSID ICSID Additional Facility Rules |
|
Paraguay (Sp.) |
5 Sept. 1996 |
14 Nov. 1997 |
Local courts ICSID UNCITRAL |
|
Peru (Sp.) |
12 Jan. 1996 |
18 Sept. 1997 |
Local courts ICSID ICSID Additional Facility Rules UNCITRAL |
|
Portugal (Por.) |
17 June 1994 |
7 Oct. 1995 |
Local courts ICSID ICSID Additional Facility Rules UNCITRAL |
|
Russian Federation [15] |
7 Nov. 2008 |
Not clear that agreement is in force [16] |
Local courts UNCITRAL Stockholm Chamber of Commerce |
|
Spain (Sp.) |
2 Nov. 1995 |
10 Sept. 1997 |
Local courts ICSID ICSID Additional Facility Rules UNCITRAL |
|
Sweden (Swedish/Sp.) |
25 Nov. 1996 |
5 Jan. 1998 |
ICSID UNCITRAL |
|
Switzerland (Fr.) |
18 Nov. 1993 |
30 Nov. 1994 |
ICSID UNCITRAL Ad hoc arbitration |
|
United Kingdom (Eng.) |
15 Mar. 1995 |
1 Aug. 1996 |
ICSID ICSID Additional Facility Rules UNCITRAL |
|
Uruguay (Sp.) |
20 May 1997 |
18 Jan. 2002 |
Local courts ICSID ICSID Additional Facility Rules UNCITRAL |
|
Vietnam [17] |
20 Nov. 2008 |
Not clear that agreement is in force [18] |
Local courts UNCITRAL Other prior approved ad hoc int'l arbitration |
| Total |
30 |
25 |
|
Free Trade Agreements [19] |
Signed |
Entered into force |
Withdrawn |
|
G3 - Venezuela, Colombia and Mexico (Sp.) [20] |
13 June 1994 |
1 Jan. 1995 |
19 Nov. 2006 |
|
Total |
1 |
0 |
1 |
|
Other Bilateral or Multilateral Associations |
Signed |
Entered into force |
|
|
1 Jan. 1995 [21] |
|
|
|
31 Aug. 1990 |
|
|
12 Aug. 1980 |
18 Mar. 1981 |
|
|
1969 (codified in 2003) |
1973 Notice of withdrawal (19 April 2006) |
|
|
MERCOSUR:
Acuerdo de Complementación Económica No 56 entre la Comunidad Andina y MERCOSUR |
08 December 2005 16 Apr. 1998
6 Dec. 2002
16 Dec. 2003
06 Dec. 2002
|
N/A N/A
N/A
1 Jul. 2004
06 Dec. 2002 |
|
12 Aug. 1999 |
16 Aug. 1999 |
|
|
29 Jun. 2000 |
1 Aug. 2000 |
|
|
2 Apr. 1993 |
1 Jul. 1993 |
|
|
Caribbean Community (CARICOM) (Trade, Technical and Economic Cooperation Agreement) |
13 Oct. 1993 |
Not in force |
|
Cuba (ACE 40) |
27 Aug. 1999 |
N/A |
|
4 Aug. 1989 |
N/A |
|
|
Nicaragua (Partial Scope Agreement) (1st Additional Protocol) (Sp.) |
15 Oct. 1986 |
N/A |
|
Costa Rica (Partial Scope Economic Complementation Agreement) (Sp.) |
21 Mar. 1996 |
N/A |
|
El Salvador (Partial Scope Agreement No. 27) (Additional Protocols) (Sp.) |
10 Mar. 1986 |
N/A |
|
20 Feb. 1986 |
N/A |
|
|
31 Oct. 1985 |
10 Apr. 1986 |
|
|
27 Oct. 1990 |
28 June 1991 |
|
|
Total |
|
|
Certain Arbitration Cases
|
ICSID Cases [22] |
Decisions, Awards and Date [23] |
|
Fedax N.V. v. Venezuela, (Case No. ARB/96/3) |
|
|
GRAD Associates, P.A. v. Bolivarian Republic of Venezuela (Case No. ARB/00/3) |
|
|
Autopista Concesionada de Venezuela, C.A. v. Bolivarian Republic of Venezuela (Case No. ARB/00/5) |
|
|
Vannessa Ventures Ltd. v. Bolivarian Republic of Venezuela (Case No. ARB(AF)/04/6) |
|
|
I&I Beheer B.V. v. Bolivarian Republic of Venezuela (Case No. ARB/05/4) |
|
|
Vestey Group Ltd v. Bolivarian Republic of Venezuela (Case No. ARB/06/4) |
|
|
Eni Dación B.V. v. Bolivarian Republic of Venezuela (Case No. ARB/07/4) |
|
|
Mobil Corporation and others v. Bolivarian Republic of Venezuela (Case No. ARB/07/27) |
|
|
ConocoPhillips Co. v. Bolivarian Republic of Venezuela (Case No. ARB/07/30) |
|
|
Brandes Investment Partners, LP v. Bolivarian Republic of Venezuela (Case No. ARB/08/3) |
|
|
CEMEX Caracas Investments B.V. and CEMEX Caracas II Investment B.V. v. Bolivarian Republic of Venezuela (Case No. ARB/08/15) |
|
|
Holcim Limited, Holderfin B.V. and Caricement B.V. v. Bolivarian Republic of Venezuela (Case No. ARB/09/3) |
|
|
Gold Reserve Inc. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/09/1) |
|
|
Total Cases |
13 |
|
Pending |
8 |
|
Concluded |
5 |
|
Certain Other Int'l Arb. Cases |
Decisions and Awards |
Date |
|
Nova Scotia Power Inc. v. Bolivarian Republic of Venezuela, UNCITRAL |
Pending |
N/A |
|
Certain Key Local Court Decisions |
Date [24] |
Tribunal |
|
C.A. Embotelladora Caracas (Venezuela) v. Pepsi-Cola Panamericana, S.A. (US/Venezuela) |
24 Jan. 1997 |
Second Court of First Instance in Civil, Mercantile and Transit Matters, Caracas |
|
Minera:Las Cristinas C.A.(Venezuela) v. Corporación Venezolana de Guayana (Venezuela) |
28 Oct. 2005 |
Tribunal Supremo de Justicia - Sala Constitucional |
|
Corporación Todosabor, C.A. (Venezuela) v. Haagen-Dazs Internacional Shoppe Company, Inc. |
14 Feb. 2006 |
Tribunal Supremo de Justicia - Sala Constitucional |
|
Elettronica Industriale S.P.A. (Italy) v. Venezolana de Televisión, C.A. (Venezuela) |
5 Apr. 2006 |
Tribunal Supremo de Justicia - Sala Politico Administrativa |
|
Tanning Research laboratorios, Inc. V. Hawaiian Tropic de Venezuela, C.A. |
7 Dec. 2006 |
Sala Politico Administrativa del Tribunal Supremo de Justicia |
|
|
17 Oct. 2008 |
Tribunal Supremo de Justicia - Sala Constitucional |
|
Total Cases |
5 |
|
Cases/Parties Per Year
|
|
AAA/ICDR [25] |
ICC [26] |
ICSID [27]
|
|
|
|
|
Registered |
Concluded |
|
|
2000 |
N/A [28] |
9 |
2 |
-- |
|
2001 |
N/A |
3 |
-- |
-- |
|
2002 |
N/A |
10 |
-- |
1 |
|
2003 |
N/A |
17 |
-- |
1 |
|
2004 |
5 |
3 |
1 |
-- |
|
2005 |
1 |
4 |
1 |
-- |
|
2006 |
N/A |
2 |
1 |
-- |
|
2007 |
N/A |
2 |
3 |
1 |
|
2008 |
N/A |
2 |
2 |
1 |
|
2009 |
N/a |
N/A |
2 |
|
Arbitral Institutions
Centro de Arbitraje de la Cámara de Comercio de Caracas
Centro Empresarial de Conciliación y Arbitraje (CEDCA)
Centro de Arbitraje de la Cámara de Comercio de Maracaibo
Centro Integral de Justicia de Chacao
DISCLAIMER: USERS OF THIS SITE ARE RESPONSIBLE FOR VERIFYING THE INFORMATION CONTAINED IN EACH COUNTRY BRIEF, THESE MATERIALS MAY NOT REFLECT THE MOST CURRENT LEGAL DEVELOPMENTS OR DECISIONS.
[1] According to Article XII 2) of the New York Convention, "[For each State ratifying or acceding to this Convention after the deposit of the third instrument of ratification or accession, this Convention shall enter into force on the ninetieth day after deposit by such State of its instrument of ratification or accession." Venezuela deposited its instrument of ratification on 8 Feb., 1995 (information available at http://www.uncitral.org/uncitral/en/uncitral_texts/arbitration/NYConvention_status.html , last visited on March 1, 2010).
[2] According to Article 10 of the Panama Convention, "[f]or each State ratifying ... the Convention after the [Convention's entry into force,] the Convention shall enter into force on the thirtieth day after deposit by such State of its instrument of ratification." Venezuela deposited its instrument of ratification on May 16, 1985 (information available at http://www.sice.org/dispute/comarb/intl_conv/caicpae.asp).
[3] According to Article 11 of the Montevideo Convention, "[f]or each State ratifying ... the Convention after the [Convention's entry into force,] the Convention shall enter into force on the thirtieth day after deposit by such State of its instrument of ratification." Venezuela deposited its instrument of ratification on February 28, 1985. (Information available at http://www.sice.org/dispute/comarb/intl_conv/caicmoe.asp).
[4] The National Assembly urged the Executive Branch to denounce the ICSID Convention by a Resolution dated February 12, 2008. As of May 8, 2008, Venezuela had not taken any further steps.
[5] Language abbreviations: English = Eng.; Spanish = Sp.; French = Fr.; Portuguese = Por.; German = Ger.
[6] Sources: UNCTAD - Country-specific lists of BITs, available at http://www.unctad.org/Templates/Page.asp?intItemID=2344&lang=1, and Venezuelan Ministry of Foreign Affairs, available at http://www.mre.gov.ve/metadot/index.pl?iid=7793&isa=Separator.
[7] Included only in UNCTAD, full text of treaty not available.
[8] This is only negotiating document with a draft BIT not yet signed.
[9] (UNCTAD) According to the official website of the Venezuelan Ministry of Foreign Affairs, the signature date July 2, 2002.
[10] Appears only in UNCTAD.
[11] Appears only in UNCTAD; full text not available.
[12] Appears only in UNCTAD, full text not available.
[13] According to Ministry of Foreign Affairs website, the BIT entered into force on 14 Sept. 1993.
[14] On April 30, 2008 Venezuela formally announced its intention to terminate the Netherlands-Venezuela BIT effective November 1, 2008. See http://www.iareporter.com/Archive/IAR-05-16-08.pdf. The treaty provides that it will continue to protect investments made prior to that date for a period of 15 years (Art. 14(3)).
[15] Full text available in Spanish in Gaceta Oficial de la República Bolivariana de Venezuela No. 39.191, dated June 2, 2009. See http://www.pgr.gob.ve/Recursos/gaceta.asp.
[16] The Venezuela-Russia BIT was ratified by the Venezuelan National Assembly on March 12, 2009 and published in the Gaceta Oficial de la República Bolivariana No. 39.191, dated June 2, 2009. See http://www.pgr.gob.ve/Recursos/gaceta.asp. The agreement was further ratified by the Russian State Duma on September 18, 2009. See http://www.venelogia.com/archivos/3031/. Neither UNCTAD nor SICE has yet verified that the agreement has entered into force.
[17] Full text available in Spanish in Gaceta Oficial de la República Bolivariana de Venezuela No. 39.170, dated May 4, 2009. See http://www.pgr.gob.ve/Recursos/gaceta.asp.
[18] The Venezuela-Vietnam BIT was ratified by the Venezuelan National Assembly on February 26, 2009 and published in the Gaceta Oficial de la República Bolivariana No. 39.170, dated May 4, 2009. See http://www.pgr.gob.ve/Recursos/gaceta.asp. It is not clear whether the agreement has been ratified by Vietnam. Neither UNCTAD nor SICE has yet verified that the agreement has entered into force.
[19] Source: OAS - SICE Foreign Trade Information System, available at http://www.sice.oas.org/agreements_e.asp, last visited: February 4, 2009.
[20] Venezuela formally announced its intent to withdraw from the G3 on May 31, 2006. The withdrawal became effective on November 19, 2006.
[21] Source: WTO, available at http://www.wto.org/spanish/thewto_s/countries_s/venezuela_s.htm
[22] Cases are presented in chronological order taking into consideration the registration number (Int'l arbitration cases) or the day of issuance (Court decisions).
[23] Date the decision or award was rendered.
[24] Date the decision was rendered.
[25] No. of cases administered by the International Center for Dispute Resolution of the AAA with a party from Venezuela.
[26] No. of Parties from Venezuela involved in Arbitration cases under ICC Rules.
[27] No. of cases registered by the ICSID Secretariat with Venezuela as Respondent State.
[28] No information available.
[29] The members of the ICC International Court of Arbitration are appointed for three year terms.
