New York Convention Arbitration Agreement

In Outokumpu, the judges agreed that the New York Convention would not prevent the application of the principles of domestic law to allow a non-signatory of an international arbitration agreement to enforce that agreement against a signatory. The Court found the following findings: 1. The text of the New York Convention does not prohibit the application of national law; 2. The history of the design and negotiation of the agreement does not reveal the intention to prohibit the application of national legislation that would allow a non-signatory to impose arbitration; and (3) Judicial decisions issued after ratification in various contracting states do not suggest that the Convention prohibits the application of national legislation relating to the application of international arbitration agreements.4 See , Id. under 15-17. (a) The parties to the agreement, in accordance with the applicable legislation, were, under the law applicable to them, in the event of incapacity or agreement under the law to which the parties submitted it, or, if this was not given, was not valid under the law of the country where the sentence was handed down; or 2 SCOTUS stated that a “just Estoppel allows a non-signer of a written agreement containing a compromise clause to force arbitration if a signatory to a written agreement must rely on the terms of that agreement to assert his rights against the non-signatory.” 2020 U.S. LEXIS 3029 at 9. The 1958 Convention on the Recognition and Enforcement of Foreign Arbitration Awards (the New York Convention) defines the requirements for valid arbitration agreements that states parties to the New York Convention recognize and enforce by referring to arbitration. The mandatory nature of the obligation to recognize and enforce existing arbitration agreements has been confirmed by laws and decisions in most jurisdictions. The Convention on the Recognition and Enforcement of Foreign Arbitration Awards, known as the New York Convention, was adopted on 10 June 1958 by a United Nations diplomatic conference and came into force on 7 June 1959. The convention requires the courts of contracting states to implement private arbitration, recognition and enforcement agreements in other contracting states. Widely regarded as the fundamental instrument of international arbitration, it applies to arbitration procedures that are not considered national distinctions in the state where recognition and application are sought.

(These major trade agreements have helped to resolve disputes, id.