Ejecución del laudo arbitral.

Abstract

Arbitration awards are resolutions issued by arbitral tribunals that, as alternative methods of dispute resolution has become popular and important in our country in recent years. In Ecuador, following the emergence of the Mediation and Arbitration Law in 1995, a process of homologation was not necessary in the case of Foreign Arbitral Awards, but since the General Organic Code of Procedures came into force, it was established that all the awards had to comply with a homologation process and with certain requirements, which were contrary to the United Nations Convention on the recognition and enforcement of the judgment. In 2018, a provision of the Productive Development Law eliminates the homologation procedure for arbitration awards issued abroad and reinstated the last paragraph of Article 42 of the Arbitration and Mediation Law, which provides that the awards issued in an International arbitration proceedings must be executed in the same way as those dictated at the national level. Then, the question arises: How does this affect legal security for international companies in the country? Which leads us to other questions What is the legal nature of the Arbitral Award? Is it more convenient to skip the approval process?.