The New York Convention

The New York Convention, formally known as the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, is an international treaty established in 1958. It helps countries recognize and enforce arbitration awards made in other countries. This means if two parties agree to resolve their disputes through arbitration, the decision can be enforced in their home countries, even if the arbitration took place abroad. The Convention aims to provide a reliable legal framework, promoting trust in international arbitration and facilitating smoother cross-border trade and business relations. Over 160 countries are parties to the Convention, enhancing its global significance.