A bill to implement the Inter-American Convention on International Commercial Arbitration.

(Measure passed House, amended, roll call #462 (356-0))

Makes the act of state doctrine inapplicable to the enforcement of arbitral agreements, confirmation of arbitral awards, and execution upon judgments based on orders confirming such awards.

Makes an exception to the immunity of a foreign nation from the jurisdiction of U.S. courts in cases of an action to enforce an arbitral agreement if: (1) the arbitration takes place or is intended to take place in the United States; (2) the agreement or award is governed by a treaty or international agreement in force for the United States calling for the recognition and enforcement of arbitral awards; (3) the underlying claim could have been brought in a U.S. court; or (4) the foreign nation has waived its immunity either explicitly or by implication. Makes an exception to the immunity from attachment and execution of the property of a foreign nation in cases where the judgment is based on an order confirming an arbitral award provided that the attachment or execution would not be inconsistent with any provision in the arbitral agreement.