Challenges

The video discusses the complexities of enforcing international contracts, highlighting the legal challenges faced when parties from different countries are involved. It explains the difficulties of using traditional court systems in the US and abroad, and how arbitration, guided by model laws like the CISG, offers a viable alternative. The New York Convention facilitates the enforcement of arbitral awards across signatory countries, providing a streamlined process for resolving international disputes.

What role does arbitration play in resolving disputes in international agreements?

Explain the purpose of the New York Convention in the context of arbitral awards.