Introduction
One of the ultimate objectives of a successful party engaged in international arbitration is to obtain a final and binding award that serves as a legally enforceable instrument that can be used to compel the other party to perform.
In practical terms, the mechanism through which an acquired award can be used to compel compliance is through the process of ‘enforcement’. When a court is requested to enforce an award, it is often asked to undertake a corresponding measure through the application of available legal measures, such as the attachment of bank accounts or the sequestering of assets within its jurisdiction.
A party seeking to enforce an award will have a myriad of factors to weigh. These include the location of the opposing party’s assets and whether the seat of the arbitration and the state in which enforcement is sought are signatories to either the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the New York Convention) or another international instrument of which a party can avail itself to enforce a foreign award.2 Other important considerations include the nuances and history of a jurisdiction’s approach to award enforcement, as specific procedures and remedies can vary significantly between countries and legal systems. Additionally, the arbitral institution managing the proceedings is a crucial factor to consider, as it can impact the integrity of the process and ensure the effective enforcement of the award.
While Latin American jurisdictions have taken diverse paths to the recognition and enforcement of international commercial arbitral awards, there is a definite trend towards uniformity in treatment. Despite the persistence of myths portraying Latin American countries as seats in which enforcing awards can be a treacherous task, recent decisions reflect that these instances are more the exception than the rule in the region.3
Although each jurisdiction varies, this chapter seeks to explore the current and general landscape of the enforcement of international commercial arbitral awards in Latin America – examining recent trends, notable court decisions and evolving attitudes towards the recognition and enforcement of awards in the region.
2. Nigel Blackaby, Constantine Partasides and Alan Redfern, ‘Recognition and Enforcement of Arbitral Awards’, in Redfern and Hunter on International Arbitration (7th edition, Oxford University Press, 2023), 605.
3. Conference Report, ‘Dispelling Myths Relating to Enforcement of Latin American Arbitration Awards in the United States and U.S. Arbitration Awards in Latin America’, N.Y. Arb. Week (18 November 2022)
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