Convention on the Recognition and Enforcement of Foreign Arbitral Awards

The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (english Convention on the Recognition and Enforcement of Foreign Arbitral Awards, NYC), or " New York Convention " or " New York Convention " is the most important international agreements in matters of arbitration. The signatory States undertake to accept private law arbitration agreements as exclusion of judicial remedies and to recognize arbitral awards carried out in other states arbitration and enforced. It was signed on 10 June 1958 and entered into force on 7 June 1959.

Background

International Commercial Arbitration (International Commercial Arbitration, ICA ) is an increasingly popular alternative dispute resolution agent for international economic activities. ICA provides a flexible way to get in the event of disagreement to a solution, in contrast to conventional state jurisdiction, which is characterized by rather lengthy process. In addition, state courts and authorities are more inclined to enforce foreign arbitral tribunal judgments against their own nationals as is the case in foreign court judgments. Enforcing confirmed by arbitration demand abroad is necessary when any assets of the defendant are present in the country of the arbitral award.

Gist

The New York Convention requires Member States one in another state (only as far as a special subject is asserted limits itself to other Member States - in the normal case, arbitration awards from third countries are favored ) recognize award rendered as such and enforce. The exceptions listed exhaustively in Article V of the Convention:

Under the law of the State where the arbitration agreement was concluded, a party was incapacitated.
Under the law of the State where the arbitration agreement was concluded, the arbitration agreement was invalid.
One party was not granted sufficient fair hearing in that it was not notified of the appointment of the arbitrator or the performance of the method or the case was not present in any other way.
The arbitration award was a fact which was not covered by the arbitration agreement or a legal consequence which was not granted by the arbitration procedure.
The tribunal was not agreed assembled or in the absence of such an agreement contrary to the provisions on the place where the arbitration was conducted.
The enforcement would violate the ( procedurally to be determined ) public policy.

Parties

There are 149 parties to the Convention (July 2013), compared with 193 member states of the United Nations. Indicated here each date of accession; the Convention entered into force in the country usually about three months later:

Afghanistan since November 30, 2004
Egypt, since March 9, 1959
Albania, since June 27, 2001
Algeria, since February 7, 1989
Antigua and Barbuda, since February 2, 1989
Argentina, since March 14, 1989
Armenia, since December 29, 1997
Azerbaijan, since February 29, 2000
Australia, since March 26, 1975
Bahamas, since December 20, 2006
Bahrain since April 6, 1988
Bangladesh, since May 6, 1992
Barbados, since March 16, 1993
Belgium, since August 18, 1975
Benin, since May 16, 1974
Bolivia, since April 28, 1995
Bosnia and Herzegovina, since September 1, 1993
Botswana, since December 20, 1971
Brazil, since June 7, 2002
Brunei, since July 25, 1996
Bulgaria, since October 10, 1961
Burkina Faso, since March 23, 1987
Chile, since September 4, 1975
Cook Islands, since January 12, 2009
Costa Rica, since October 26, 1987
Denmark, since December 22, 1972
Germany, since June 30, 1961
Dominica since October 28, 1988
Dominican Republic, since April 11, 2002
Djibouti, since June 14, 1983
Ecuador since January 3, 1962
El Salvador, since February 26, 1998
Ivory Coast, since February 1, 1991
Estonia, since August 30, 1993
Fiji, since September 27, 2010
Finland, since January 19, 1962
France, since June 26, 1959
Gabon, since December 15, 2006
Georgia, since June 2, 1994
Ghana, since April 9, 1968
Greece, since July 16, 1962
Guatemala, since March 21, 1984
Guinea since January 23, 1991
Haiti, since December 5, 1983
Honduras, since October 3, 2000
India, since July 13, 1960
Indonesia, since October 7, 1981
Iran, since October 15, 2001
Ireland, since May 12, 1981
Iceland, since January 24, 2002
Israel, since January 5, 1959
Italy, since January 31, 1969
Jamaica, since July 10, 2002
Japan, since June 20, 1961
Jordan, since November 15, 1979
Cambodia, since January 5, 1960
Cameroon, since February 19, 1988
Canada, since May 12, 1986
Kazakhstan has, since November 20, 1995
Kenya, since February 10, 1989
Kyrgyzstan, since December 18, 1996
Colombia since September 25, 1979
Croatia since July 26, 1993
Cuba since December 30, 1974
Kuwait since April 28, 1978
Laos, since June 17, 1998
Lesotho, since June 13, 1989
Latvia, since April 14, 1992
Lebanon since August 11, 1998
Liberia, since September 16, 2005
Liechtenstein, since July 7, 2011
Lithuania, since March 14, 1995
Luxembourg, since September 9, 1983
Madagascar, since July 16, 1962
Malaysia since November 5, 1985
Mali since September 8, 1994
Malta, since June 22, 2000
Morocco since February 12, 1959
Marshall Islands, since December 21, 2006
Mauritania, since January 30, 1997
Mauritius, since June 19, 1996
Macedonia, since March 10, 1994
Mexico since April 14, 1971
Moldova since September 18, 1998
Monaco, since June 2, 1982
Mongolia, since October 24, 1994
Montenegro since October 23, 2006
Mozambique, since June 11, 1998
Myanmar, since April 16, 2013
Nepal since March 4, 1998
New Zealand since January 6, 1983
Nicaragua, since September 24, 2003
Netherlands since April 24, 1964
Niger, since October 14, 1964
Nigeria, since March 17, 1970
Norway, since March 14, 1961
Oman since February 25, 1999
Austria, since May 2, 1961
Pakistan since July 14, 2005
Panama, since October 10, 1984
Paraguay, since October 8, 1997
Peru, since July 7, 1988
Philippines since July 6, 1967
Poland, since October 3, 1961
Portugal, since October 18, 1994
Qatar, since December 30, 2002
Republic of Cyprus, since December 29, 1980
Rwanda since October 31, 2008
Romania, since September 13, 1961
Russia, since August 24, 1960
Zambia, since March 14, 2002
San Marino, since May 17, 1979
Saudi Arabia, since April 19, 1994
São Tomé e Príncipe, since February 18, 2013
Sweden, since January 28, 1972
Switzerland, since June 1, 1965
Senegal, since October 17, 1994
Serbia, since March 12, 2001
Zimbabwe, since September 29, 1994
Singapore since August 21, 1986
Slovakia, since May 28, 1993
Slovenia, since July 6, 1992
Spain, since May 12, 1977
Sri Lanka, since April 9, 1962
St. Vincent and the Grenadines, since September 12, 2000
South Africa, since May 3, 1976
South Korea, since February 8, 1973
Syria since March 9, 1959
Tajikistan since August 14, 2012
Tanzania, since October 13, 1964
Thailand, since December 21, 1959
Trinidad and Tobago, since February 14, 1966
Czech Republic, since September 30, 1993
Tunisia, since July 17, 1967
Turkey, since July 2, 1992
Uganda since February 12, 1992
Ukraine, since October 10, 1960
Hungary, since March 5, 1962
Uruguay, since March 30, 1983
Uzbekistan, since February 7, 1996
Vatican, since May 14, 1975
Venezuela since February 8, 1995
United Arab Emirates, since August 21, 2006
United States since September 30, 1970
UK, since September 24, 1975
Vietnam, since September 12, 1995
People's Republic of China, since January 22, 1987
Belarus since November 15, 1960
Central African Republic, since October 15, 1962

Party (law) The Bahamas Enforcement of foreign judgments

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