Law Decree No. 5 of July 8, 1999, establishes the juridical and ethical principles that guide the arbitration, conciliation and mediation processes in Panama.
Our legislation admits the discussion of arbitration processes under the protection of the internationally acknowledged rules, as are the arbitration rules of the International Court of Arbitration of the International Chamber of Commerce, the rules of the Inter American Commission of Commercial Arbitration (CIAC), those of the United Nations Commission for the Development of Mercantile Law, Uncitral, Unidrot, etc.

The Chamber of Commerce and Industries maintains the seat of the main Center of Conciliation and Arbitration in the country. It is worthwhile to indicate that the first process discussed in this Center was successfully managed by our juridical office.

Arbitration processes usually have their origin in contractual provisions, nevertheless, is in order the submission to arbitration of a controversy in any phase of the conflict, provided the parties voluntarily and formally agree to.
Arbitration processes have the advantage of substantially reducing the length of time that takes to resolve conflicts in the judicial sphere.