International arbitration has for many years been the preferred dispute resolution mechanism in large cross-border transactions involving Latin American nations, assets, or parties. The region as a whole is moving in the right direction towards perhaps becoming an active force in the promotion of international arbitration globally. It is too soon, however, to advise U.S. companies involved in major cross-border transactions to consider Latin American seats of arbitration in their arbitration clauses, to liberally choose Latin American laws to govern their complex international arrangements, or to select Latin American arbitration institutions to administer their proceedings. International arbitration most likely will continue to develop and expand in Latin America in the coming years. Now the main question is how best to tailor the arbitration clause to meet the specific needs of the deal and the peculiarities of the countries and parties involved.