The present essay tries to shed light on topics such as jurisdiction, applicable law, recognition and enforcement of arbitral awards under the latest Uruguayan Commercial Arbitration Act and makes a comparative approach with other arbitration institution models in the field of international dispute settlements like UNCITRAL. It is important to stress whether Uruguay has followed or torn apart the policy-making directives of those institutions. Likewise, it will go deeper on the advantages and disadvantages of this Law for Uruguay´s interests and its conformity with both domestic and international law on the matter.