New Jersey Statutes 2A:23E-2. Findings, declarations relative to international arbitration
Terms Used In New Jersey Statutes 2A:23E-2
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
a. The State of New Jersey is in a unique position to benefit from the growth of international trade, and the State’s position in the region provides important opportunities for the State to participate in international business, trade, and commerce;
b. There will inevitably arise, from time to time, disagreements and disputes arising from international commercial transactions that are amenable to resolution through international arbitration, mediation, conciliation, and other forms of dispute resolution in lieu of international litigation;
c. It is the policy of this State to encourage the use of arbitration, mediation, and conciliation to reduce disputes arising out of international business, trade, commercial, and other relationships; and
d. It is declared that the objective of encouraging the development of New Jersey as an international center for the resolution of international business, commercial, trade, and other disputes be supported through the establishment of certain legal authorities, as set forth in this act.
L.2017, c.1, s.2.