Interpretation and application of the New York Convention in Peru

Since the Arbitration Law was enacted, arbitration has developed significantly in Peru. Peruvian doctrine considers the New York Convention to be very valuable, as do the Peruvian courts. However, while Peruvian courts have ample experience applying the Arbitration Law to local awards, thus enabling the healthy development of the arbitration market in this country, there have been very few requests for the recognition or enforcement of foreign arbitral awards, which means that Peru still lacks jurisprudence in this area. Fortunately, in all cases where Peruvian courts have applied the Convention to date, the foreign arbitral awards have been given effect.