Are there any special considerations for international arbitration awards?
Yes, there are special considerations for international arbitration awards in Texas. In Texas, arbitration awards must be consistent with the law of the state. If the award involves a dispute between two or more countries, then the law of the country from which the dispute arose can also be taken into consideration. In addition, Texas courts may be more deferential to international awards than domestic awards when deciding whether to affirm or overturn them. International arbitration awards may also be subject to the provisions of the New York Convention. Under the New York Convention, an international arbitration award is generally enforceable in countries that are signatories to the Convention. This means that if one party to the dispute does not comply with the award, the other party may be able to seek enforcement of the award in a foreign court. Furthermore, international awards may be subject to the rules of the UN Commission on International Trade Law (UNCITRAL). This is important because UNCITRAL’s rules provide guidance on the procedure for the international arbitration process. Additionally, the UNCITRAL rules set out a framework for the enforcement of international arbitration awards. As a result, parties to an international arbitration award may be more assured that their award will be enforced, even if one of the parties does not comply with the award.
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