Arbitration In Argentina: New International Commercial Arbitration Law

On July 26th, 2018, it was published in the Official Gazette the new International Commercial Arbitration Law No. 27,449 (Ley de Arbitraje Comercial Internacional, or LACI by its Spanish acronym)¹. The LACI follows the United Nations Commission on International Trade Law (UNCITRAL) Model Law as amended in 2006, and is a breakthrough concerning arbitration in Argentina², positioning the country as an appealing venue of choice for out-of-court business dispute settlements in Latin America.

Additionally to thoroughly regulating the arbitration agreement and procedure, the LACI also governs the recognition and enforcement of any arbitral award in Argentina, irrespective of the seat where it has been issued. As for this issue, the Title IX, Chapter 2, Article No. 104, of the LACI established that the recognition and enforcement of an arbitral award in Argentina may only be denied if: