Arbitration As An Alternative Method To Resolve Disputes Derived From A Contract

Published by financial newspaper Moneda and Diario Tiempo, August 2010

What is arbitration?

Arbitration is an alternative method to resolve conflicts with one or more arbitrators. It is a more agile way than a judicial process and it is common in commercial contracts which include a clause that states that any problems that may arise between parties in a contract may be solved by arbitration.

This clause excludes the start of a trial for issues submitted to arbitration.

Which is the applicable law in Honduras and what does it state?

In Honduras, arbitration is governed by the Arbitration and Conciliation Act (Act 161 of 2000) and in the Rules of Conciliation and Arbitration Centre of the Chamber of Commerce and Industry of Tegucigalpa.