New York Agreement for International Commercial Sale of Goods

• Category: Contracts - Buy Sell - Sale of Goods
• State: Multi-State
• Control #: US-13185BG
• Format: Word; Rich Text

Description

This form is an agreement for international commercial sale of goods. The New York Agreement for International Commercial Sale of Goods, also known as the New York Convention, plays a crucial role in facilitating international trade by providing a unified framework for the enforcement of commercial arbitration awards. This agreement, governed by the United Nations Commission on International Trade Law (UNCIAL), aims to ensure fairness, predictability, and enforceability of international commercial contracts. Under the New York Agreement, parties involved in international commercial transactions can opt for arbitration as a method of dispute resolution. This agreement encompasses a wide range of goods, including commodities, machinery, technology, and intellectual property, among others. One of the significant aspects of the New York Agreement is its provisions on the recognition and enforcement of arbitration awards. Once an arbitration award is rendered in one of the Member States of the New York Convention (there are currently 165 Member States), it can be easily recognized and enforced in any other Member State. This eliminates the need for parties to go through lengthy and cumbersome court proceedings in different jurisdictions. The New York Agreement sets clear legal standards and requirements for the recognition and enforcement of arbitration awards. It establishes limited grounds for refusal, such as invalidity of the arbitration agreement, lack of due process, or violation of public policy. These grounds are intended to provide certainty and prevent unfair denials of recognition or enforcement. Furthermore, the New York Agreement also establishes rules for the enforcement of foreign arbitral agreements and the referral of disputes to arbitration. It establishes procedures for the referral of disputes to arbitration, appointment of arbitrators, conduct of proceedings, and the content and form of arbitration awards. In addition to the main New York Agreement, several supplementary protocols have been adopted to address specific issues and improve the effectiveness of the Convention. These protocols include the Singapore Mediation Convention, which promotes the use of mediation in resolving international commercial disputes, and the Mauritius Convention, which focuses on the settlement of investment disputes. Overall, the New York Agreement for International Commercial Sale of Goods is a foundational instrument in international trade law. Its provisions on the recognition and enforcement of arbitration awards provide businesses with a reliable mechanism to resolve disputes and ensure the smooth flow of international trade transactions. By promoting legal certainty and uniformity, the New York Agreement significantly contributes to the growth and stability of the global economy.

The New York Agreement for International Commercial Sale of Goods, also known as the New York Convention, plays a crucial role in facilitating international trade by providing a unified framework for the enforcement of commercial arbitration awards. This agreement, governed by the United Nations Commission on International Trade Law (UNCIAL), aims to ensure fairness, predictability, and enforceability of international commercial contracts. Under the New York Agreement, parties involved in international commercial transactions can opt for arbitration as a method of dispute resolution. This agreement encompasses a wide range of goods, including commodities, machinery, technology, and intellectual property, among others. One of the significant aspects of the New York Agreement is its provisions on the recognition and enforcement of arbitration awards. Once an arbitration award is rendered in one of the Member States of the New York Convention (there are currently 165 Member States), it can be easily recognized and enforced in any other Member State. This eliminates the need for parties to go through lengthy and cumbersome court proceedings in different jurisdictions. The New York Agreement sets clear legal standards and requirements for the recognition and enforcement of arbitration awards. It establishes limited grounds for refusal, such as invalidity of the arbitration agreement, lack of due process, or violation of public policy. These grounds are intended to provide certainty and prevent unfair denials of recognition or enforcement. Furthermore, the New York Agreement also establishes rules for the enforcement of foreign arbitral agreements and the referral of disputes to arbitration. It establishes procedures for the referral of disputes to arbitration, appointment of arbitrators, conduct of proceedings, and the content and form of arbitration awards. In addition to the main New York Agreement, several supplementary protocols have been adopted to address specific issues and improve the effectiveness of the Convention. These protocols include the Singapore Mediation Convention, which promotes the use of mediation in resolving international commercial disputes, and the Mauritius Convention, which focuses on the settlement of investment disputes. Overall, the New York Agreement for International Commercial Sale of Goods is a foundational instrument in international trade law. Its provisions on the recognition and enforcement of arbitration awards provide businesses with a reliable mechanism to resolve disputes and ensure the smooth flow of international trade transactions. By promoting legal certainty and uniformity, the New York Agreement significantly contributes to the growth and stability of the global economy.