The Challenges of the New York Convention and Potential Solutions

Abstract

This paper analyzes the current challenges of the New York Convention and proposes potential solutions through the actual situation and public reporting. Central to these challenges is the over-dependence on the judicial systems of the target countries, which often results in inconsistent and unreliable enforcement of international arbitration awards. This analysis identifies several key issues impacting the Convention's effectiveness: the conservative attitude of some countries in the enforcement of international arbitration, judicial corruption, the imperfection of the judicial system, and the different enforcement procedures under various judicial systems. To address these impediments, the paper explores innovative solutions inspired by successful practices from other international legal frameworks. Notably, it examines the streamlined processes of the Madrid Agreement Concerning the International Registration of Marks and various bilateral legal assistance agreements. These models provide valuable insights into simplifying procedural complexities and enhancing the uniformity of legal processes. By integrating these practices, the paper proposes actionable strategies to mitigate the current limitations of the New York Convention, aiming to bolster its role as a foundational instrument in the global arbitration landscape.