Connecticut Arbitration Agreement with Foreign Company
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How to fill out Arbitration Agreement With Foreign Company?
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FAQ
Perhaps the foremost advantage of international arbitration over litigation is that an international arbitral award is enforceable virtually worldwide, while a judgment from a national court is oftentimes only enforceable in the nation that issued it.
Within the United States, New York, Miami and Houston have emerged as the most popular arbitral seats.
The place of arbitration is of particular importance for the enforcement of an UNCITRAL award. The law of the place of arbitration will also determine the procedural framework of an arbitration and define the extent to which local courts can intervene in the arbitral proceedings.
Arbitration provides a binding solution to the dispute by way of an arbitral 'award'. The award can be enforced internationally through the provisions of the 1958 New York Convention on the Recognition and Enforcement of Arbitral Awards, which more than 140 states have ratified.
(1) Why it MattersThe place of arbitration is usually the place where the hearings take place, but it need not be. The selection of the place of arbitration in an international contract is vital both juridically and practically.
To put it simply, in international commercial arbitration (where one of the parties is foreign but the arbitration is held in India) and a foreign-seated arbitration: (where the arbitration is outside India), the intervention of Indian courts is more limited than domestic arbitrations (where parties are Indian and the
To enforce a foreign commercial arbitral award in the U.S. courts (assuming the losing party is subject to the jurisdiction of the U.S. courts), an award holder need only present an authentic copy of the award to the court, at which point it will be recognized and enforced unless the losing party can establish a basis
(1) The parties are free to agree on the place of arbitration. (2) Failing any agreement referred to in sub-section (1), the place of arbitration shall be determined by the Arbitral Tribunal having regard to the circumstances of the case, including the convenience of the parties.
A party may also challenge the enforcement of an arbitration clause in a contract on the grounds that it violates Connecticut public policy. A Connecticut court may void any contract that violates public policy (see Hanks v.
In domestic arbitration, the place of arbitration does not pose any problem. It can be anywhere in India according to the agreement of the parties. If arbitration is under the rules of an institution, it is generally conducted at the place where the institution is located, subject to agreement to the contrary.