Questions: Multiple Choice Question The Convention on the Recognition and Enforcement of Foreign Arbitral Awards allows for the enforcement of arbitration awards in many major countries, proved that the arbitration is international preceded by a good faith attempt by both parties to mediate their dispute non-binding approved by the American Arbitration Association

Multiple Choice Question The Convention on the Recognition and Enforcement of Foreign Arbitral Awards allows for the enforcement of arbitration awards in many major countries, proved that the arbitration is international preceded by a good faith attempt by both parties to mediate their dispute non-binding approved by the American Arbitration Association
Transcript text: Multiple Choice Question The Convention on the Recognition and Enforcement of Foreign Arbitral Awards allows for the enforcement of arbitration awards in many major countries, proved that the arbitration is $\qquad$ international preceded by a good faith attempt by both parties to mediate their dispute non-binding approved by the American Arbitration Association
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Solution

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The answer is A: international.

Explanation for each option:

A. International: The Convention on the Recognition and Enforcement of Foreign Arbitral Awards, commonly known as the New York Convention, is designed to facilitate the enforcement of international arbitration awards. It applies to awards that are considered international, meaning they involve parties from different countries or have some other international element. This is the correct answer.

B. Preceded by a good faith attempt by both parties to mediate their dispute: The New York Convention does not require that arbitration be preceded by mediation. While mediation can be a useful step in dispute resolution, it is not a prerequisite for the enforcement of arbitration awards under the Convention.

C. Non-binding: Arbitration awards are typically binding, meaning that the parties are expected to comply with the decision. The New York Convention is specifically concerned with the enforcement of binding arbitration awards, not non-binding ones.

D. Approved by the American Arbitration Association: The New York Convention does not require arbitration awards to be approved by any specific arbitration institution, such as the American Arbitration Association. The Convention applies to awards made in any country that is a signatory, regardless of the administering institution.

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