The New York Convention for the Enforcement of Foreign Arbitral Awards

Cross-border equipment lessors and their financiers often prefer binding arbitration clauses in their lease agreements on the assumption that, under the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, an arbitral award granted, for example, in the United States would be simple and quick to enforce in the foreign jurisdiction of the lessee. This, however, is not necessarily the case.

22 minute readJuly 30, 2012 at 03:07 PM
By
James R. Cairns
The New York Convention for the Enforcement of Foreign Arbitral Awards

Cross-border equipment lessors and their financiers often prefer binding arbitration clauses in their lease agreements on the assumption that, under the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, an arbitral award granted, for example, in the United States would be simple and quick to enforce in the foreign jurisdiction of the lessee.

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