Práctica del arbitraje comercial en Nicaragua

However, the author identifies several challenges, including perceptions about arbitration as being costly and a legal culture that affects the speediness of the process. The study analyzes some risks inherent in the proposed Code of Civil Procedure, regarding the required approval of arbitration awards and provisional remedies. The author proposes a series of measures to increase the use and benefits of arbitration. These measures include promoting a culture of arbitration, reducing costs, and improving the efficiency of the process. The study also highlights the importance of the role of the judiciary in promoting arbitration and the need for a reform of the civil procedure code to facilitate the use of arbitration. The use of arbitration in Nicaragua is still limited, with only a few cases being resolved through this mechanism. However, the author notes that there is a growing interest in arbitration, particularly among businesspeople and lawyers. The study also identifies the need for a more effective system of arbitration, with clear rules and procedures, to promote the use of this mechanism. The author suggests that the creation of a specialized arbitration center could help to promote the use of arbitration in Nicaragua. Such a center could provide training and support for arbitrators, as well as a platform for the resolution of disputes. The study also highlights the importance of promoting a culture of arbitration, through education and awareness-raising campaigns, to increase the use of this mechanism. The study concludes that arbitration has the potential to be a valuable tool for the resolution of commercial disputes in Nicaragua. However, it notes that there are several challenges that need to be addressed in order to promote the use of arbitration. These challenges include the need for a more effective system of arbitration, the promotion of a culture of arbitration, and the reduction of costs. The author proposes a series of recommendations to promote the use of arbitration in Nicaragua. These recommendations include the creation of a specialized arbitration center, the promotion of a culture of arbitration, and the reduction of costs. The study also highlights the importance of the role of the judiciary in promoting arbitration and the need for a reform of the civil procedure code to facilitate the use of arbitration. The study was conducted by Elsy Lizethe Marenco Corea, a lawyer and notary public, who has a master's degree in law from the Universidad Centroamericana. The study was supported by FUNIDES, a center of thought and research that aims to promote economic, institutional, and social progress in Nicaragua. The study was also supported by the Cooperación Suiza para el Desarrollo, the Embajada del Reino de los Países Bajos, and the Embajada Real de Dinamarca.