Minimum Wage changes in the Republic of Panama
By means of executive decree No. 263 of December 21st of 2009, President Martinelli´s approved the new minimum wage that will enter into effect as of January 1, 2010
Legal basis and historical reference
According to article 66 of the constitution of the Republic of Panama, the law will establish the mechanism to adjust periodically the minimum wage. In fulfillment of this article the previous government created a “Minimum wage National Commission”, composed by the workers union and the private sector (employers). This commission historically has never concurred with a satisfactory decision for a new minimum wage.
E-commerce, documents and electronic signatures in Panama
By means of Law No.51, 2008, Panama can finally enjoy the advantages of e-commerce, e-documents and electronic signatures. Law No.51 also modifies the Panamanian civil, commercial and procedural codes in order to update all topics regarding electronic business in the Republic of Panama.
The introduction of electronic documents was key to this new Law. Every act and contract that may have been granted through electronic means in electronic documents will have exactly the same value as written documents, unless the law provides that an act is not verifiable by means of an electronic document. In procedural law, the law was modified to provide the opportunity to show a document that had been technologically stored in accordance with the law. Also Civil and commercial codes now allow agreements reached by electronic means.