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Under American law, the recognition of foreign arbitral awards is governed by chapter 2 of the Federal Arbitration Act, which incorporates the New York Convention. [5] Therefore, the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the "Convention") preempts state law. In Foster v.
An arbitral decision is foreign where the award was made in a state other than the state of recognition or where foreign procedural law was used. [45] In most cases, these disputes are settled with no public record of their existence as the loser complies voluntarily, [ 46 ] although in 2014 UNCITRAL promulgated a rule for public disclosure of ...
An arbitration award (or arbitral award) is a final determination on the jurisdiction, merits, costs or other aspect of a dispute by an arbitration tribunal in an arbitration, and is analogous to a judgment in a court of law. [1]
Arbitration agreements and arbitral awards are enforced under the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 (the "New York Convention"). [2] The International Centre for the Settlement of Investment Disputes (ICSID) also handles arbitration, but it is limited to investor-state dispute ...
The U.S. is a signatory to international conventions regulating the enforcement of arbitration awards, including the Convention on the Recognition and Enforcement of Foreign Arbitral Awards [68] [69] (often referred to as the "New York Convention"), and the Inter-American Convention on International Commercial Arbitration, 14 I.L.M. 336 (1975 ...
During the negotiations, parallels were drawn between the New York Convention on arbitral awards: the aim was to create a system of recognition of decisions based on court cases where the court was chosen pursuant to a choice of court agreements, which would create the same level of predictability and enforceability as is the case in arbitral ...
The inter-American convention on extraterritorial validity of foreign judgments and arbitral awards is a convention of the Organization of American States regulating the enforcement of judgements and arbitral awards in other member states. [2]
The Case Law on UNCITRAL Texts system is a collection of court decisions and arbitral awards interpreting UNCITRAL texts. CLOUT includes case abstracts in the six United Nations languages on the United Nations Convention on Contracts for the International Sale of Goods (CISG) (Vienna, 1980) and the UNCITRAL Model Law on International Commercial ...