1 One resolution recommended consideration of the creation of a permanent Central American Arbitration Commission to deal with differences arising in transnational transactions within the Common Market; and recommended also that the Organization of Central American States prepare a draft protocol to the General Treaty of Central American Economic Integration “concerning the use of commercial arbitration as an optional method for resolving private controversies arising within the Central American Common Market.'’ This should be in accordance with the principles ‘ ‘ (a) That the arbitration clause be considered valid in all contracts where it is so agreed; (b) That when the contracting parties have not specified the procedures to be followed, those established in the draft uniform law on International Commercial Arbitration approved in 1956 by the Inter American Council of Jurists shall govern; (c) That the competent judicial authority may be called upon to intervene for the purpose of ensuring the performance of the arbitral clause and the eventual execution of the award, which shall have the effect of res judicata.”

Another resolution declared “That it would be advisable for all the American States to enact the draft uniform law on Inter-American Commercial Arbitration approved at the third meeting of the Inter-American Council of Jurists held in Mexico in 1956; and to ratify the Convention on Recognition and Execution of Foreign Arbitral Awards, approved by the U.N. Conference held in New York in 1958.” It also recommended creation of a permanent commission for Inter-American Commercial Arbitration in each of the American states; and urged all stock exchanges and Chambers of Commerce in the American states, as well as the Inter-American Council of Commerce and Production and like organizations, to support arbitration and the use of uniform arbitration clauses. It further recommended that the “ Inter-American Commercial Arbitration Commission be reorganized, having as members one representative from each of the National Commissions, and that the Inter-American Commercial Arbitration Commission formulate uniform rules and regulations on inter-American commercial arbitration.“