As the only complete and systematic treatment on the subject, this book offers the first comprehensive analysis of the Panama Convention, its implementing legislation in the United States, and United States court decisions construing its provisions.
By comparing the Panama and New York Conventions, it identifies important differences, such as the Panama Convention's mandatory application of the Rules of Procedure of the IACAC to ad hoc arbitrations and differences in the Conventions' provisions concerning the grounds for recognition and enforcement of arbitral awards.
By comparing Chapter 3 of the Federal Arbitration Act with the other provisions of the federal act, this book exposes problems in the implementing law as well as ways in which Chapter 3 improves on the federal law implementing the New York Convention. Through a critical review of Convention jurisprudence in the United States, it highlights at least three areas in which the courts need to do a much better job:
the Convention's field of application
application of the IACAC Rules
differentiation between the New York and Panama Conventions
Preface, Introduction CHAPTER I Basic Features of the Panama Convention
CHAPTER II Comparison of the Panama and New York Conventions A. The Close
Relationship between the two Conventions B. Differences between the Two
CHAPTER III Implementation of the Panama Convention in the United States A.
Overlapping Provisions of the Federal Arbitration Act B. Important
Differences between Chapters 2 and 3 CHAPTER IV Vacatur of Panama
Convention Awards A. Differences between Vacatur and Refusal to Recognize
and Execute an Award B. The Place to Make Application C. The
Time to Make Application D. The Source of Governing Principles E.
The Principles Governing Vacatur and Refusal to Enforce F. Effect on
the Award of Vacatur and of Refusal to Enforce CHAPTER V Court Decisions
Implementing the Panama Convention in the United States CHAPTER VI Progressive
Casualty Insurance V. C.A. Reaseguradora Nacional De Venezuela CHAPTER VII
Productos Mercantiles E Industriales, S.A. V. Faberge USA, Inc CHAPTER VIII
American Life Insurance V. Parra CHAPTER IX Sidervrgica Del Orinoco (Sidor),
C.A. V. Linea Na Viera De Cabotaje, C.A. CHAPTER X Employers Insurance VI.
Banco De Seguros Del Estado CHAPTER XI Empresa Constructora Contex Ltd. V.
Iseki, Inc CHAPTER XII The Panama Convention in the 21st Century: The United
States Perspective APPENDIX A The Inter-American Convention on
International Commercial Arbitration APPENDIX B United Nations
Convention on the Recognition and Enforcement of Foreign Arbitral Awards
APPENDIX C Federal Arbitration Act APPENDIX D Inter-American
Commercial Arbitration Commission Rules of Procedure APPENDIX E 1956
Draft Uniform Law on Inter-American Commercial Arbitration APPENDIX F
Draft Convention on International Commercial Arbitration, Index