Paul D. Friedland, Damien NyerFrom: International Commercial Arbitration in New York (2nd Edition)
Edited By: James H. Carter, John Fellas
This chapter offers recommendations for drafting arbitration clauses that provide for international arbitration in New York. It addresses preliminary issues that, irrespective of the chosen seat of arbitration, must be considered. The literature on this topic is extensive and is summarized accordingly, but the basic rule when drafting an arbitration clause is to start with a model clause. This is so whether or not the clause provides for arbitration in New York. In addition, the chapter also discusses considerations that are specific to arbitration clauses designating New York as the place of arbitration, and offers proposed wording. And, as explained in Chapter 1, the arbitration law applicable to arbitrations located in New York stems from the Federal Arbitration Act (FAA), the New York Convention and the Panama Convention, and the New York Civil Practice Law and Rules (CPLR).