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

The New York Convention is an international treaty that facilitates the enforcement of arbitration agreements and arbitral awards across different countries. It ensures that when parties from different nations agree to settle disputes through arbitration, their awards are recognized and can be enforced in other signatory countries with consistent legal backing. This promotes international trade and commerce by providing legal certainty and reducing the risk of non-enforcement, making cross-border arbitration more reliable and efficient. The Convention applies to commercial disputes and helps ensure that winning parties can effectively realize their awards worldwide.