Kings New York Arbitration Agreement - with Foreign Company

Name: Kings New York Arbitration Agreement - with Foreign Company
Brand: US Legal Forms
Rating: 4.74 (378 reviews)

Category:

Technology - Litigating Computer Actions

State:

Multi-State

County:

Kings

Control #:

US-CP1313-AM

Format:

Instant download

Description

This sample form, a detailed Arbitration Agreement (with Foreign Company) document, is for use in the computer, internet and/or software industries. Adapt to fit your circumstances. Available in Word format.

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FAQ

In the international context, arbitration also benefits from enforcement conventions that allow the direct enforcement of awards. The decisions of experts only have the force of contract and, to enforce them, parties must bring a new action in the appropriate jurisdiction for breach of contract.

To enforce a foreign commercial arbitral award in the U.S. courts (assuming the losing party is subject to the jurisdiction of the U.S. courts), an award holder need only present an authentic copy of the award to the court, at which point it will be recognized and enforced unless the losing party can establish a basis

Under AAA rules, parties to AAA cases agree that the arbitration award can be entered as a judgment in any federal or state court with jurisdiction. This means that the court can enforce it like it was any other court judgment.

Arbitration provides a binding solution to the dispute by way of an arbitral 'award'. The award can be enforced internationally through the provisions of the 1958 New York Convention on the Recognition and Enforcement of Arbitral Awards, which more than 140 states have ratified.

Particularly in the international contracts area, arbitration is used to bypass the fear (real or perceived) of not getting a fair hearing in another country's courts, or fear of corruption in such courts.

International arbitration is the preferred method of resolving cross-border disputes, with London, Singapore, Hong Kong, Paris and Geneva topping the list as the most preferred seats for arbitration. ICC, SIAC, HKIAC, LCIA and CIETAC were named as the top five arbitral institutions.

Perhaps the foremost advantage of international arbitration over litigation is that an international arbitral award is enforceable virtually worldwide, while a judgment from a national court is oftentimes only enforceable in the nation that issued it.

A. The Foreign Sovereign Immunities Act (FSIA), 28 U.S.C. FSIA is the sole means for obtaining jurisdiction over a foreign sovereign State in US court.

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Kings New York Arbitration Agreement - with Foreign Company

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Is arbitration good for international contracts?

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