District of Columbia Arbitration Agreement with Foreign Company
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FAQ
Arbitral awards are internationally recognized and enforced under the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958, which is one of the world's most successful treaties, having been ratified or adhered to by almost 150 states.
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.
International arbitration is arbitration between companies or individuals in different states, usually by including a provision for future disputes in a contract.
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.
While domestic ADR provides an alternative to a court disposition, often times in international ADR, there is no ready court or law to turn to. Thus, ADR is even more important in international disputes. Also, while international arbitration is more established, international mediation may also be an ideal solution.
It can be concluded that CISG can be applied to arbitration agreements by parties belonging to Contracting States. CISG can also be applied to escape from the rigid formal validity rule mentioned under Article II of the New York Convention.
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
Under AAA rules, parties to AAA cases agree that the arbitration award can be entered as a judgment in any federal or state court with jurisdiction. This means that the court can enforce it like it was any other court judgment.
International arbitration is arbitration between companies or individuals in different states, usually by including a provision for future disputes in a contract.