Arbitration is the most common and most preferred means of resolving international commercial disputes. The benefits of arbitration include relative speed, privacy, and party autonomy in selection of their umpire.
The scope of New York Convention in terms of the awards falling within its ambit has been a conversational topic and has been widely discussed in the international arbitral community.
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[NOT ADDRESSED in Convention]
Public policy
Enforcement court can reject enforcement if “enforcement of the award would be contrary to public policy” (Art. V(2) lit. b)
Enforcement court can reject enforcement if “recognition or enforcement would be MANIFESTLY incompatible
with the public policy of the requested State” (Art. 9 lit. e, emphasis added)
Therefore, during transactions, one must necessarily decide between arbitration and choice-of-court agreements with a view to enforcement.
There will be no one-size-fits-it-all solution. In particular, the answer is not as simple as “judgments are now easier in enforcement.” Tailor-made solutions are required. Important considerations will be:
Where shall enforcement take place (i.e., in a contracting State of The Hague Convention)?