 The agreements, known officially as "Treaties for the Advancement of Peace," set up procedures for conciliation rather than for arbitration.Arbitration treaties were negotiated after the war, but attracted much less attention than the negotiation mechanism created by the League of Nations.By far the most important international instrument on arbitration law is the 1958 New York Convention on Recognition and Enforcement of Foreign Arbitral Awards, usually simply referred to as the "New York Convention".