Originally from Reflections on International Arbitration - Essays in Honour of Professor George Bermann

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International arbitration remains the preferred route for resolving cross-border disputes for 90% of the respondents to the QMUL/White & Case 2021 International Arbitration Survey.   One of the most significant reasons why parties prefer international arbitration is the near universal approval of the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, better known as the New York Convention, which counts 168 Contracting States to date.  The Convention provides a simple and straight¬forward process for enforcing arbitration agreements and the resulting awards without the difficulties that typically arise in the enforcement of foreign judgments.  The most valuable characteristic of arbitration is the “enforceability of awards,” according to 64% of the respondents who prefer arbitration as a means of resolving their cross-border disputes. Article III of the Convention mandates States to accord recognition and enforcement to Convention awards,  and the scope for challenging an award is strictly limited to jurisdictional questions, procedural fairness and public policy grounds, as provided in Article V.