Santiago as a Seat for International Commercial Arbitration
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The seat of an arbitration is the jurisdiction in which the arbitration procedure takes place. The seat not only influences the law applicable to the arbitration, but its courts also exercise supervisory powers over the proceedings. Moreover, the seat of the arbitration determines the jurisdiction of the award for recognition and enforcement purposes. The venue of an arbitration, on the other hand, is the location where the proceedings take place. Although the hearings, meetings, and deliberations may be held at the seat—or at any other location— the seat and the venue of an arbitration are typically one and the same. In fact, the venue usually determines the seat of an international arbitration unless the parties name another seat of the arbitration.