The present study discusses some important questions on arbitration in Latin-America focusing on the issue of appointment and challenge of arbitrators. The author attempts to describe some characteristic features of arbitration in Latin-America paying particular attention to the impact of the Calvo Doctrine and Calvo Clause. The author also discusses the significance of the so-called compromiso (or in Portuguese: compromisso). The author gives a detailed analysis on the appointment and challenge of arbitrators in the legal system of Argentina, Brazil, Chile and Mexico, highlighting also some leading cases in this issue. The study enumerates some important arbitration institutes in these countries, as well. The author puts emphasis on introducing the legal regulation on arbitration of the foregoing countries taking into consideration the legal tradition, which might have significant influence on the present legislation and legal practice, as well. As the law on arbitration in some of the foregoing countries in many aspects follow the regulations of UNCITRAL Model Law, the author tries to compare the analyzed acts with the UNCITRAL Model Law, which served and serves as a guideline for arbitration law in several countries of Latin America.