Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention)

The Convention on the Recognition and Enforcement of Foreign Arbitral Awards, commonly known as the New York Convention, is an international treaty that facilitates the recognition and enforcement of arbitration agreements and awards across different countries. It ensures that if parties from different nations agree to settle disputes through arbitration, the resulting awards can be legally recognized and enforced in other signatory countries, reducing legal hurdles and promoting international trade and dispute resolution. Established in 1958, the Convention streamlines cross-border arbitration, making it more reliable and predictable for international transactions.