Commercial Arbitration in Venezuela: An Analysis Perspective

Abstract

The objective of this research is to analyze commercial arbitration in the Venezuelan legal system. A descriptive-explanatory documentary-type methodology is applied, based on the analytical method. Commercial arbitration configures an alternative means of resolving conflicts in commercial matters, in which the parties decide to submit the incidents arising from the execution of a business to the knowledge of impartial and neutral people, avoiding the intervention of ordinary judicial organs. The current Venezuelan constitution and the Commercial Arbitration Law represent the two key
instruments for the regulation of commercial arbitration in the country, in which commercial acts are its distinctive element. In this sense, the implementation of commercial arbitration must be a reflection of the exercise of constitutional rights such as effective judicial protection, as it is a means that the State itself offers and supports as an alternative to judicial delay. The purpose of arbitration is not to replace ordinary jurisdiction, but to assist in its function, to resolve controversial rights of the parties provided that public order is not compromised.