The New York convention of 1958 discourages the use of arbitration in commercial agreements made by companies in the signatory countries.

Question

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The United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 (New York Convention), adopted in more than 50 countries, encourages the use of arbitration in commercial agreements made by companies in the signatory countries. Under the New York Convention it is easier to compel arbitration, where previously agreed upon by the parties, and to enforce the arbitrator's award once a decision is reached.

The New York Convention of 1958 Discourages the Use of Arbitration