Question

Which of the following is true of the arbitration framework created by the New York Convention?

A) Signatory countries can require parties to an arbitration agreement to actually use arbitration.
B) Signatory countries recognize and can enforce arbitration judgments.
C) There are limited grounds for appealing arbitration decisions.
D) The grounds that are recognized are different than the typical appeals that are permitted in a court of law.
E) all of the above

Answer 1

The New York Convention establishes an arbitration framework that encompasses several important aspects. Signatory countries recognize and enforce arbitration judgments, there are limited grounds for appealing arbitration decisions, and these grounds differ from typical court appeals.

Step-by-step explanation:

The New York Convention established an arbitration framework that has several important characteristics:

1. Signatory countries recognize and can enforce arbitration judgments. This means that parties to an arbitration agreement can rely on the enforcement of their award in any signatory country.
2. The arbitration framework limits the grounds for appealing arbitration decisions. The convention imposes a narrow scope for setting aside an arbitral award, which provides finality and certainty to the arbitration process.
3. The grounds for appeal in arbitration are different than those allowed in a typical court of law. The New York Convention does not permit appeals based on errors of law or facts. Instead, the grounds for setting aside an arbitral award are restricted to limited procedural irregularities or violations of public policy.

Therefore, option E) all of the above is true regarding the arbitration framework under the New York Convention.