Montevideo Convention 1979:
Argentina, Bolivia, Brazil, Colombia, Ecuador, Mexico, Paraguay, Peru, Uruguay, Venezuela.
Bustamante Code 1928:
Bahamas, Bolivia, Brazil, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Nicaragua, Panama, Peru, Venezuela*
*Although in force in Venezuela, the provisions on recognition and enforcement of foreign judgments (Articles 423435) were reserved by Venezuela.
Bolivian Accord 1911:
Ecuador, Bolivia, Peru, Colombia, Venezuela
Yes. It is possible, by means of a judicial process of Exequatur. However, if the country that rendered the judgment does not recognize Peruvian judgments, the exequatur would be denied.
The estimated time is 2 years not including the collection stage. It is first required to follow an Exequator process for official recognition and then an enforcement process, which includes a final stage for collection. If unopposed, it shouldn’t take more than one year each without considering collection in the latter. The collection stage could take between 3 months and 2 plus years, depending on the kind of assets owned by the defendant, if any.
It is usually 4 to 6 years without considering the collection stage. It is first required to follow a process of Exequator for official recognition and then an enforcement process, which includes a final stage for collection. If opposed, the recognition process may take one and a half to two years and a half and the enforcement process from two and a half to four years without considering collection. The collection stage could take 3 months to 2 plus years, depending on the kind of assets owned by the defendant, if any.
The cost varies depending on the amount of the claim. Court fees are approximately USD 1200.
If opposed, court fees are approximately USD 1500.
Peruvian courts deal with an excessive load of cases and there are usually delays in handling them. If the enforcement is against State entities, a specific procedure for collection should be followed which, depending on the amount, could take up to 5 years only for this stage.