Inter-American Convention on International Commercial Arbitration
Inter-American Convention on International Commercial Arbitration: adopted by the member states of the Organization of American States on 30 January 1975. The parties agree in Article I that “an agreement in which the parties undertake to submit to arbitral decision any differences that may arise between them with respect to a commercial transaction is valid”. Article 4 states that any arbitral decision or award that cannot be appealed against under the applicable law has the force of a final judicial judgement. See also arbitration.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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