New York continues to dominate as the top arbitration hub in the U.S., as highlighted by the 2023 Dispute Resolution Statistics from the International Chamber of Commerce (ICC). The International Centre for Dispute Resolution (ICDR) reported an increase in cases in 2023, with New York being the favored seat, significantly outpacing Miami. Key factors contributing to New York’s prominence include the supportive approach of its courts towards arbitration and a robust pool of sophisticated arbitrators. Recent pro-arbitration decisions by New York courts have further solidified its status. For instance, the Second Circuit’s decision in Smarter Tools v. Chongqing SENCI Imp. & Exp. Trade allowed for the remand of a case to an arbitrator to provide missing reasoning, thus supporting the functus officio doctrine. Additionally, the District Court for the Southern District of New York (SDNY) ruled in Hitachi Constr. Mach v. Weld Holdco that non-signatory parties could be bound by arbitration agreements if they knowingly exploited the benefits of the underlying contract.