venezuela SetHeight50

Venezuela

Latin Arbitration Law Country Profile

Arbitration Law

International Conventions

 

Signed

Entered into force

New York Convention

8 Feb. 1995

9 May 1995 [1]

Panama Convention

30 Jan. 1975

15 June 1985 [2]

Montevideo Convention

8 May 1979

30 Mar.  1985 [3]

ICSID Convention

 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

Barbados (Eng.) (Sp.)

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

Brazil (Sp.) (Por.)

4 July 1995

Not in force

Local courts
ICSID
ICSID Additional Facility Rules
UNCITRAL

Canada (Eng.) (Fr.)

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

Germany (Sp.) (Ger.) [10]

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

WTO

 

1 Jan. 1995 [21]

GATT

 

31 Aug. 1990

ALADI (LAIA)

12 Aug. 1980

18 Mar. 1981

Andean Community (Cartagena Agreement)

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

Brazil (Economic Complementation Agreement No. 39, signed by Venezuela as part of the Andean Community) (Sp.)

12 Aug. 1999

16 Aug. 1999

Argentina (Economic Complementation Agreement No. 48, signed by Venezuela as part of the Andean Community) (Sp.)

29 Jun. 2000

1 Aug. 2000

Chile (Economic Complementation Agreement No. 23) (Sp.)

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

Trinidad and Tobago (Partial Scope Agreement No. 20) (Sp.)

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

Honduras (Partial Scope Agreement No. 16) (Sp.)

20 Feb. 1986

N/A

Guatemala (Partial Scope Agreement No. 23) (Sp.)

31 Oct. 1985

10 Apr. 1986

Guyana (Partial Scope Agreement No. 22) (Sp.)

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)

  • Concluded 
    Award on Jurisdiction (Eng.)
    11 Jul. 1997
  • Final Award (Eng.)
    9 Mar. 1998

GRAD Associates, P.A. v. Bolivarian Republic of Venezuela (Case No. ARB/00/3)

  • Concluded Order for the discontinuance of the proceeding
    5 Feb. 2002

Autopista Concesionada de Venezuela, C.A. v. Bolivarian Republic of Venezuela (Case No. ARB/00/5)

  • Concluded
    Decision on Jurisdiction (Eng.) (Sp.)
    27 Sep. 2001
  • Final Award (Eng.) (Sp.)
    23 Sep. 2003

Vannessa Ventures Ltd. v. Bolivarian Republic of Venezuela (Case No. ARB(AF)/04/6)

  • Pending Decision on Jurisdiction (Eng.)
    22 Aug. 2008
  • Proceeding was suspended until new arbitrator is appointed
    28 Jul 2009

I&I Beheer B.V. v. Bolivarian Republic of Venezuela (Case No. ARB/05/4)

  • Concluded
    Proceeding was dismissed
    28 Dec. 2007

Vestey Group Ltd v. Bolivarian Republic of Venezuela (Case No. ARB/06/4)

  • Pending
    Proceeding was suspended
    13 Apr. 2009

Eni Dación B.V. v. Bolivarian Republic of Venezuela (Case No. ARB/07/4)

  • Concluded
    Parties reached a settlement
    18 Apr. 2008

Mobil Corporation and others v. Bolivarian Republic of Venezuela (Case No. ARB/07/27)

  • Pending

ConocoPhillips Co. v. Bolivarian Republic of Venezuela (Case No. ARB/07/30)

  • Pending

Brandes Investment Partners, LP v. Bolivarian Republic of Venezuela (Case No. ARB/08/3)

  • Pending

CEMEX Caracas Investments B.V. and CEMEX Caracas II Investment B.V. v. Bolivarian Republic of Venezuela (Case No. ARB/08/15)

  • Pending

Holcim Limited, Holderfin B.V. and Caricement B.V. v. Bolivarian Republic of Venezuela (Case No. ARB/09/3)

  • Pending

Gold Reserve Inc. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/09/1)

  • Pending

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.

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