Recently, a Colombian Court refused to hear a case to have an international arbitration award set aside, because it found the parties had waived their right to recourse against the award by submitting their dispute to the ICDR Rules, which state that all awards are "final and binding on the parties". Although the court's ratio decidendi was later called into question by a higher court, this novel ruling sets the stage to analyze the scope and application of Colombia's international arbitration regime, Law 315 of 1996, and to debate whether or not this means that it is now valid under Colombian law to waive any right to set aside an international arbitration award. This paper analyzes both issues, with the authors concluding that in an international arbitration context, such waiver should be deemed valid in Colombia. [ABSTRACT FROM AUTHOR]