For many businesses, the limited bases for challenging an award, coupled
with the ability to enforce the award
under the New York Convention, make
international arbitration the preferred
method (some would say the only
method) for resolving transnational
disputes. For other businesses, the lack
of an ability to challenge the factual and
legal decisions underlying the award
is a serious flaw. Consequently, some
practitioners have attempted to expand
the scope of judicial review through
agreement of the parties.