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|Title:||Olivos Protocol for the Settlement of Disputes in MERCOSUR|
|Alternative Title(s):||Olivos Protocol (MERCOSUR)|
|Southern Cone Market (MERCOSUR): The Olivos Protocol|
|Entry Into Force Date:||2004-02-10|
|Description:||As noted by Professor Welber Barral, (42 ILM 1), the Olivos Protocol sets forth a dispute settlement system under MERCOSUR which revokes the Protocol of Brasilia (36 ILM 3 (1997)). The Olivos Protocol provides that dispute settlement shall be in the form of negotiation and arbitration, rather than in the form of a supranational tribunal. Parties who wish to bring claims under the Olivos Protocol must wait for their national governments to espouse their claims before an arbitral tribunal. There is a Permanent Court of Review which can review the decisions of ad hoc arbitral tribunals.
The OAS web site provides a link to the text of the Olivos Protocol in Spanish and in Portuguese. An English translation is available in 42 ILM 2 (2003).
|Legal Citation:||42 ILM 2 (2003)|
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