Are there any special considerations for international arbitration awards?
Yes, when involving international arbitration awards, there are a few considerations to keep in mind. In Oregon, both international and domestic arbitration proceedings are governed by the Oregon Uniform Arbitration Act. This act outlines the laws and procedures that apply to arbitration in Oregon, both domestic and international. However, when dealing with an international arbitration award, there are some extra steps that need to be taken. For example, when seeking to enforce an international arbitration award, the party must file a petition for recognition and enforcement. This petition must include the following: a copy of the arbitration agreement, the arbitration award, the parties’ identities and addresses, and a statement regarding the amount due if any. In addition, under the Federal Arbitration Act, an application for recognition and enforcement of international arbitration awards must be made in the federal district court where the award has been rendered or where the assets of the party are located. This procedure is necessary because international arbitration awards are not automatically enforceable in the United States. Furthermore, the Federal Arbitration Act limits the grounds for refusing to enforce an international arbitration award. It requires the court to enforce an award unless it finds that the award was procured by fraud or was beyond the scope of the agreement between the parties. Lastly, each country may have its own special considerations for international arbitration awards. Thus, parties should be aware of any special considerations applicable to their specific situation. For instance, some countries may not recognize awards that are rendered in other countries. Therefore, international arbitration awards should be taken seriously, as they involve special considerations that must be properly addressed for the award to be enforceable.
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