The benefits and limitations of enforcing arbitration awards in international disputes are as follows: Benefits: Global enforcement: One of the primary benefits of arbitration is that it provides a globally recognized mechanism for resolving disputes, particularly in international business transactions. Arbitration awards can be enforced more easily across borders than court judgments because many countries have signed the New York Convention. Expertise: Parties can choose arbitrators with specific expertise in the relevant industry or subject matter, which may lead to better-informed decisions. Confidentiality: Arbitration proceedings can be confidential, which means that sensitive business information can be protected. Cost-effectiveness: In general, arbitration can be more cost-effective than litigation because the parties can control the process and limit the scope of discovery, reducing legal fees and other costs. Timeliness: Arbitration is generally faster than litigation because it is a private process, and the parties can set their own timetable for resolving the dispute. Limitations: Limited appeal: The parties’ ability to appeal an arbitration award is limited, which means that there is little room for correcting errors or changing the outcome. Cost: While arbitration can be less expensive than litigation, it can still be costly, particularly if the dispute is complex and requires extensive evidence and legal representation. Lack of transparency: The confidentiality of arbitration proceedings can also be a limitation. Because arbitration is a private process, there may be limited public scrutiny of the decision-making process. Limited discovery: The limited scope of discovery in arbitration can mean that the parties do not have access to all the information they need to make their case. Limited remedies: The remedies available in arbitration may be more limited than those available in litigation, particularly where punitive damages or injunctive relief are concerned. In summary, while enforcing arbitration awards can provide a fast, effective, and globally recognized method of resolving international disputes, it is essential to weigh the benefits and limitations before choosing arbitration as the method of dispute resolution.