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a reasoned award is not a sub-category of award, but is used to describe an award where the tribunal sets out its reasoning for its decision. [9] an additional award is an award which the tribunal, by its own initiative or on the application of a party makes in respect of any claim which was presented to the tribunal but was not resolved under ...
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.
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]
By far the most important international instrument on arbitration law [citation needed] is the 1958 New York Convention on Recognition and Enforcement of Foreign Arbitral Awards, usually simply referred to as the "New York Convention".
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 ...
Arbitration, in the context of the law of the United States, is a form of alternative dispute resolution.Specifically, arbitration is an alternative to litigation through which the parties to a dispute agree to submit their respective evidence and legal arguments to a third party (i.e., the arbitrator) for resolution.
Additionally, Ecuador had to pay $589 million in backdated compound interest and half of the costs of the tribunal, making its total penalty around $2.4 billion. [8] The South American country annulled a contract with the oil firm on the grounds that it violated a clause that the company would not sell its rights to another firm without permission.