On August 27, 2025, Law 2540 was enacted, establishing the arbitral enforcement proceeding in Colombia to alleviate the burden on judicial offices. This type of arbitration will be exclusively institutional and shall also be governed by the provisions of the National and International Arbitration Statute and the General Procedural Code.

Among the relevant aspects of this new Law, the following are highlighted:

1. Banks may include arbitration agreement for mortgage loans, although it prohibits arbitration agreements in loans for social interest housing and in properties inhabited by minors.
2. In arbitral enforcement proceedings concerning housing loans, all fees and expenses must be borne entirely by the creditor.
3. Auctions of assets may be conducted by specialized entities, arbitration centers, or through new technologies, including electronic auction platforms.
4. The Law prohibits the direct inclusion of the arbitration agreement in negotiable instruments, requiring instead that it be formalized in an annexed or separate document.
5. In consumer matters, when arbitral enforcement is agreed upon, there is a duty to provide clear, precise, and verifiable information regarding the effects of the arbitration agreement. The Law also guarantees non-waivable rights and regulates the right of withdrawal in adhesion contracts and financial services.
6. Related to procedure, the new Law provides that, as a rule, the proceeding shall be conducted by a sole arbitrator, with a maximum duration of twelve (12) months. 
7. The Law creates the figure of the “precautionary measures arbitrator,” empowered to order and implement such measures before to the constitution of the arbitral tribunal.
8. Domestic arbitral awards may be enforced before the same arbitral tribunal, provided that a request is made within ten (10) days of notification of the award.
9. Arbitration centers may enter into agreements with specialized entities to carry out the necessary procedures for administering, appraising, and auctioning assets subject to enforcement, or may assume these functions directly.
10. The Ministry of Justice and Law must regulate, among other matters, the fee schedules for arbitral tribunals and arbitration centers, as well as the fees of the authorities authorized to manage seized and attached assets.

Law 2540 of 2025 will enter into force on February 27, 2026, and shall apply to any matters in which, from now on, the parties enter into an arbitration agreement for the purpose of submitting to this proceeding.