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The 'Convention on the Recognition and Enforcement of Foreign Arbitral Awards' (Also known as the 'New York Convention'; the 'United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards'; and the 'New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards') was signed in 10 June 1958 and entered into force, 7 June 1959. The Convention applies to the recognition and enforcement of arbitral awards made in the territory of a State other than the State where the recognition and enforcement of such awards are sought. It applies to arbitral awards not considered as domestic awards in the State where their recognition and enforcement is sought.
Other international conventions also apply to the cross border enforcement of arbitration awards, but the New York Convention is by far the most widely adopted and the most important.

Contents

Background

Summary of provisions

Text

List of parties to the Convention (as of February 2002)

External link

Background

International arbitration is an increasingly popular means of alternative dispute resolution for the cross-border conduct of business due to the flexibility and lower cost of arbitration proceedings as compared to litigation. In addition, businesses often prefer arbitration because foreign courts are more likely to enforce an arbitral award against their nationals. A damages award issued by the claimant's country of nationality will need to be enforced abroad if the defendant corporation or individual does not have assets in the awarding country.

Summary of provisions

Under the Convention, an arbitration award issued in any a contracting state can generally be freely enforced in any other contracting state, only subject to certain, limited defenses. Those defenses are:
#a party to the arbitration agreement was, under the law applicable to him, under some incapacity;
#the arbitration agreement was not valid under its governing law;
#a party was not given proper notice of the appointment of the arbitrator or of the arbitration proceedings, or was otherwise unable to present its case;
#the award deals with an issue not contemplated by or not falling within the terms of the submission to arbitration, or contains matters beyond the scope of the arbitration (subject to the proviso that an award which contains decisions on such matters may be enforced to the extent that it contains decisions on matters submitted to arbitration which can be separated from those matters not so submitted);
#the composition of the arbitral tribunal was not in accordance with the agreement of the parties or, failing such agreement, with the law of the place where the hearing took place (the "lex loci arbitri");
#the award has not yet become binding upon the parties, or has been set aside or suspended by a competent authority, either in the country where the arbitration took place, or pursuant to the law of the arbitration agreement;
#the subject matter of the award was not capable of resolution by arbitration; or
#enforcement would be contrary to "public policy".

Text

The text of the convention is available online.[1]

List of parties to the Convention (as of February 2002)

★ Albania, on 27 June 2001

★ Algeria, on 7 February 1989

★ Antigua and Barbuda, on 2 February 1989

★ Argentina, on 14 March 1989

★ Armenia, on 29 December 1997

★ Australia, on 26 March 1975

★ Austria, on 2 May 1961

★ Azerbaijan, on 29 February 2000

★ Bahrain, on 6 April 1988

★ Bangladesh, on 6 May 1992

★ Barbados, on 16 March 1993

★ Belarus, on 15 November 1960

★ Belgium, on 18 August 1975

★ Benin, on 16 May 1974

★ Bolivia, on 28 April 1995

★ Bosnia and Herzegovina, on 1 September 1993

★ Botswana, on 20 December 1971

★ Brazil, in 2002

★ Brunei Darussalam, on 25 July 1996

★ Bulgaria, on 10 October 1961

★ Burkina Faso, on 23 March 1987

★ Cambodia, on 5 January 1960

★ Cameroon, on 19 February 1988

★ Canada, on 12 May 1986

★ Central African Republic, on 15 October 1962

★ Chile, on 4 September 1975

★ China, on 22 January 1987

★ Colombia, on 25 September 1979

★ Costa Rica, on 26 October 1987

★ Côte d'Ivoire, on 1 February 1991

★ Croatia, on 26 July 1993

★ Cuba, on 30 December 1974

★ Cyprus, on 29 December 1980

★ Czech Republic, on 30 September 1993

★ Denmark, on 22 December 1972

★ Djibouti, on 14 June 1983

★ Dominica, on 28 October 1988

★ Ecuador, on 3 January 1962

★ Egypt, on 9 March 1959

★ El Salvador, on 26 February 1998

★ Estonia, on 30 August 1993

★ Finland, on 19 January 1962

★ France, on 26 June 1959

★ Georgia, on 2 June 1994

★ Germany, on 30 June 1961

★ Ghana, on 9 April 1968

★ Greece, on 16 July 1962

★ Guatemala, on 21 March 1984

★ Guinea, on 23 January 1991

★ Haiti, on 5 December 1983

★ Holy See, on 14 May 1975

★ Honduras, on 3 October 2000

★ Hungary, on 5 March 1962

★ Iceland, on 24 January 2001

★ India, on 13 July 1960

★ Indonesia, on 7 October 1981

★ Iran, Islamic Republic of, on 15 October 2001

★ Ireland, on 12 May 1981

★ Israel, on 5 January 1959

★ Italy, on 31 January 1969

★ Japan, on 20 June 1961

★ Jordan, on 15 November 1979

★ Kazakhstan, on 20 November 1995

★ Kenya, on 10 February 1989

★ Korea, Republic of, on 8 February 1973

★ Kuwait, on 28 April 1978

★ Kyrgyzstan, on 18 December 1996

★ Lao People's Democratic Republic, on 17 June 1998

★ Latvia, on 14 April 1992

★ Lebanon, on 11 August 1998

★ Lesotho, on 13 June 1989

★ Lithuania, on 14 March 1995

★ Macedonia, the former Yugoslav Republic of, on 10 March 1994

★ Madagascar, on 16 July 1962

★ Malaysia, on 5 November 1985

★ Mali, on 8 September 1994

★ Malta, on 22 June 2000

★ Mauritania, on 30 January 1997

★ Mauritius, on 19 June 1996

★ Mexico, on 14 April 1971

★ Moldova, Republic of, on 18 September 1998

★ Monaco, on 2 June 1982

★ Mongolia, on 24 October 1994

★ Morocco, on 12 February 1959

★ Mozambique, on 11 June 1998

★ Nepal, on 4 March 1998

★ Netherlands, on 24 April 1964

★ New Zealand, on 6 January 1983

★ Niger, on 14 October 1964

★ Nigeria, on 17 March 1970

★ Norway, on 14 March 1961

★ Oman, on 25 February 1999

★ Panama, on 10 October 1984

★ Paraguay, on 8 October 1997

★ Peru, on 7 July 1988

★ Philippines, on 6 July 1967

★ Poland, on 3 October 1961

★ Portugal, on 18 October 1994

★ Romania, on 13 September 1961

★ Russian Federation, on 24 August 1960

★ Saint Vincent and the Grenadines, on 12 September 2000

★ San Marino, on 17 May 1979

★ Saudi Arabia, on 19 April 1994

★ Senegal, on 17 October 1994

★ Singapore, on 21 August 1986

★ Slovakia, on 28 May 1993

★ Slovenia, on 6 July 1992

★ South Africa, on 3 May 1976

★ Spain, on 12 May 1977

★ Sri Lanka, on 9 April 1962

★ Sweden, on 28 January 1972

★ Switzerland, on 1 June 1965

★ Syrian Arab Republic, on 9 March 1959

★ Tanzania, United Republic of, on 13 October 1964

★ Thailand, on 21 December 1959

★ Trinidad and Tobago, on 14 February 1966

★ Tunisia, on 17 July 1967

★ Turkey, on 2 July 1992

★ Uganda, on 12 February 1992

★ Ukraine, on 10 October 1960

★ United Kingdom of Great Britain and Northern Ireland, on 24 September 1975

★ United States of America, on 30 September 1970

★ Uruguay, on 30 March 1983

★ Uzbekistan, on 7 February 1996

★ Venezuela, on 8 February 1995

★ Vietnam, on 12 September 1995

★ Yugoslavia, on 12 March 2001

★ Zimbabwe, on 26 September 1994

External link

★ Neil J. Saltzman, The Enforcement of Foreign Awards in New York State
http://www.wipo.int/amc/en/arbitration/ny-convention/parties.html