This form brings together several boilerplate contract clauses that work together to outline the procedures for arbitration of any disputes and to establish the laws and legal jurisdiction that will govern such arbitration should it become necessary.
New York Arbitration - Long-Form Provision
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FAQ
2. The term ?agreement in writing? shall include an arbitral clause in a contract or an arbitration agreement, signed by the parties or contained in an exchange of letters or telegrams.
First, there are still around fifty states that are not party to the New York Convention, including Angola, Iraq, Libya and Tajikistan (see below for a full list). When seeking to enforce an award in such a state, other means will be required instead of or in addition to the New York Convention.
The longstanding rule in New York is as follows: "In deciding whether any part of an action should be directed to arbitration, [the] Court must determine: (i) whether the parties had an agreement to arbitrate; (ii) the scope of that agreement; (iii) if federal statutory claims are asserted, whether Congress intended ...
The primary aim of the New York Convention was to overhaul the double exequatur protocols (which essentially means the Court of the state in which the arbitral award was first issued would first need to 'recognise' the award via what is known as an 'exequatur' process before it going to the Court of the state within ...
Article V of the New York Convention sets forth the limited and exhaustive grounds on which recognition and enforcement of an arbitral award may be refused by a competent authority in the Contracting State where recognition and enforcement is sought.
The FAA, in turn, became the model for the original Uniform Arbitration Act (UAA), adopted by the Conference of Commissioners on Uniform State Laws (NCCUSL) in 1955. NY never enacted the UAA, although its law had similarities, it having been the starting point for the whole legislative process.
Article II(3) of the New York Convention prescribes that the court of a Contracting State shall refer the parties of an action to arbitration, if there is a valid arbitration agreement between the parties regarding the subject matter of the dispute.
1 While the overwhelming number of arbitrations that take place are ingly governed by the FAA, there are some disputes, such as professional malpractice disputes or New York-based real estate disputes, that do not involve interstate commerce, and therefore are governed instead by the CPLR.
The Uniform Arbitration Act (UAA), promulgated in 1955, has been one of the most successful Acts of the National Conference of Commissioners on Uniform State Laws. Forty-nine jurisdictions have arbitration statutes; 35 of these have adopted the UAA and 14 have adopted substantially similar legislation.