A new world-class hearing space will open its doors in New York City on July 1, 2013. The New York International Arbitration Center (NYIAC) — located near Grand Central Station, Times Square, the Empire State Building, the United Nations Headquarters, and other well-known New York landmarks — will be available for arbitrations administered by any institution, plus ad hoc arbitrations, mediation proceedings, and a variety of conferences.
The NYIAC is an independent nonprofit, unaffiliated with any particular organization. Parties are free, therefore, to use NYIAC for their hearings regardless of the administering organization or the arbitration rules, making NYIAC easily accessible to arbitrators, mediators, and neutrals alike as a neutral space to meet and resolve disputes.
The Benefits of Arbitrating International Disputes in the United States
The opening of NYIAC is yet another inducement for parties to resolve their disputes in the United States, and specifically to choose New York as the seat of arbitration. Federal law in the US strongly favors arbitration and upholding arbitration clauses that reflect the parties’ desire to resolve their disputes outside of municipal court systems, and the New York-based federal courts have been particularly active in this regard. New York is, in addition, home to world-class arbitrators and mediators, as well as attorneys and judges, who are highly experienced in resolving international disputes. Moreover, New York is at the center of the business world and a natural choice for business-minded parties who want to resolve their conflicts as efficiently as possible.