Thread: Court of Arbitration of the Chamber of Commerce

Please tell me what this court does and if it can be a useful process.

The Chamber provides quick but expensive justice. Most real estate agreements are decided in arbitration as explained in My Panama Lawyer: Search results for arbitration
Arbitration fees can run at 2% and must be paid in advance. On the other hand, they do not have the corruption and slowness of govefrnment-run courts.

I have been involved in this. The other party just didn't show so thousands (including other party's fee) and many months was spent on nothing, although the contract as drafted by the other party mandated arbitration. We were up to 160 pages and they never even spoke to the other party. 2 % was not correct - more like 12-15 %, but as always Panama attorneys are mostly complete airheads who should be selling shoes.

It completely lacks a function as you can agree on it and them just completely ignore it without repercussions.