Asked by Derise Major on May 26, 2024
Verified
There are no international conventions or treaties to assist in the enforcement of arbitration clauses because their enforcement is a national domain.
International Conventions
Agreements between countries that are binding at the international level, often focusing on specific issues like human rights, environmental protection, or trade.
Arbitration Clauses
Provisions within a contract that require disputes to be resolved through arbitration rather than through court litigation.
National Domain
The total area or digital presence under the control of a specific nation, including its land, waters, and cyber territory.
- Understand the fundamental principles and characteristics of arbitration.
Verified Answer
SM
Shameega MatthewsJun 02, 2024
Final Answer :
False
Explanation :
The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 is an international treaty that assists in the enforcement of arbitration clauses and arbitral awards across its signatory countries, facilitating international trade and investment by providing a common legal standard for recognizing and enforcing foreign arbitral awards.
Learning Objectives
- Understand the fundamental principles and characteristics of arbitration.