Are New York or SMA arbitration awards enforceable in court?
Yes, under the Federal Arbitration Act, once you win and your opponent has not satisfied the Award, you can go to court to confirm the award and enforce it. Once the court confirms the Panel’s Award, it becomes a judgment which is enforceable in the same manner as any decision rendered by the court, itself. A motion to confirm usually must be made within one (1) year or, if it is an international award, within three (3) years from the date of the Award. Because the United States is a party to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards and to the Inter-American Convention on International Commercial Arbitration, New York arbitration Awards are enforceable in any country, signatory to these Conventions.
