Guide On The Convention On The Recognition And Enforcement Of Foreign Arbitral Awards

The New York Convention has served as the cornerstone of the international arbitration system since its signature in 1958 until the present day. The Guide on the New York Convention provides an insight on the application of the Convention by State courts. It was initiated in 2010 when UNCITRAL commissioned the assistance of Professors Gaillard and Bermann as part of its efforts to promote wider adherence to the text of the New York Convention as well as its uniform interpretation and effective implementation. The interpretation that derives from court decisions of diverse jurisdictions makes the Guide a unique tool to understand the New York Convention, an almost universally adopted text, and to monitor its application. This guide is mainly designed for legal practitioners.

The Guide on the Convention on the Recognition and Enforcement of Foreign Arbitral Awards provides a detailed analysis of the judicial interpretation and application of the New York Convention by reference to case law from 45 Contracting States. The Guide, and the newyorkconvention1958.org website which supplements it, will become an essential tool that benefits all those involved in the interpretation and application of the New York Convention.

The Guide on the New York Convention provides an insight on the application of the Convention by State courts.

B. What is a "competent authority" of the country "in which, or under the law of which", the award was made? -- C. Award set aside or suspended -- Article V (2)(a) -- A. Concept -- B. Application -- Article V (2)(b) -- A. Concept -- B. Application -- C. Procedural issues in raising the defence of article V (2)(b) -- Article VI -- A. General principles -- B. The decision to grant or deny adjournment -- C. The decision to order suitable security -- Article VII -- Article VII (1) -- A. General principles -- B. Interaction of the Convention with other treaties -- C. Interaction of the Convention with domestic law -- Article VII (2) -- Article VIII -- Article VIII (1) -- Article VIII (2) -- A. Procedure for becoming a party -- B. Depositary -- Article IX -- Article X -- Article XI -- Article XII -- Article XIII -- Article XIV -- Article XV -- Article XVI -- ANNEX I Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 10 June 1958) -- ANNEX II External Resources (Interactive Guide, Bibliography, Case Law, Jurisdiction Briefs, Travaux Préparatoires, General Index) -- Editorial Board -- UNCITRAL Secretariat -- Research Assistants -- Acknowledgement of Contributions

This incisive book is an indispensable guide to the New York Convention's uniform regime on recognition and enforcement of foreign arbitral awards. Framing the Convention as a uniform law instrument, the book analyses case law from major arbitration jurisdictions to explain its scope of application, the duty to recognize arbitral agreements and awards as well as their limitations, and the procedure and formal requirements for enforcing arbitral awards.

The analysis thoroughly covers the major issues that have arisen in the application of the Convention, including the following: - the use of reservations made by Contracting States; - the distinctions between recognition and enforcement and between recognition sought at the seat of the arbitration and outside the seat; - the role of the courts in reviewing arbitral awards and, in particular, the Convention's focus on safeguarding due process standards; - the more favourable rightsA" principle embodied in Article VII(1); - the relevance of forum shopping and asset spotting to the application of the Convention; and - the role of formalities and formalism. The end result is an invaluable work that will prove enormously useful to all international commercial arbitration practitioners and scholars, regardless of location.

Merely obtaining a favorable arbitral award or judgment at the end of a dispute holds little value unless the prevailing party is able to enforce it. This book, more thoroughly than any other source, shows practitioners how to navigate the relevant laws in New York—a leading global financial center known for its pro-enforcement policies and the powerful discovery tools it makes available to creditors. No other resource explores the current state of the law in New York as comprehensively as this book. Beyond its sheer practical significance given the likelihood of debtors having assets in (or routing U.S. dollar transactions through) New York, this book provides creditors and their counsel with the critical information they need to define their global enforcement strategy and facilitate their enforcement efforts not only in New York but potentially worldwide. Among the issues and topics that the book tackles are the following: • review of the fundamentals of U.S. practice and procedure for non–New York practitioners; • easy to understand, jargon-free explanation of the often daunting state and federal procedures for enforcement; • up-to-date, clear presentation of the relevant case law, including key state and federal decisions; • explanation of how state and federal laws intersect with international law; • review of significant recent developments impacting a creditor's ability to reach foreign defendants and their assets outside the U.S. in post-judgment execution proceedings; and • comprehensive advice on the practicalities of executing a judgment. Given the critical role New York plays in a host of cross-border transactions and its status as a hub for worldwide judgment and award enforcement, the demand to better understand the laws and judicial system within the state has never been higher. This comprehensive yet practical guide to navigating award and judgment enforcement in New York provides the understanding both the basics and the nuances in this area that is critical for any domestic or international practitioner when advising a client as to the likelihood of collection in or through New York.

This book examines how the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, commonly known as The New York Convention, has been understood and applied in [insert number] jurisdictions, including virtually all that are leading international arbitration centers. It begins with a general report surveying and synthesizing national responses to a large number of critical issues in the Convention’s interpretation and application. It is followed by national reports, all of which are organized in accordance with a common questionnaire raising these critical issues. Following introductory remarks, each report addresses the following aspects of the Convention which include its basic implementation within the national legal system; enforcement by local courts of agreements to arbitrate (including grounds for withholding enforcement), recognition and enforcement of foreign awards by local courts under the Convention (including grounds for denying recognition and enforcement), and essential procedural issues in the courts’ conduct of recognition and enforcement. Each report concludes with an overall assessment of the Convention’s interpretation and application on national territory and recommendations, if any, for reform. The New York Convention was intended to enhance the workings of the international arbitral system, primarily by ensuring that arbitral awards are readily recognizable and enforceable in States other than the State in which they are rendered, subject of course to certain safeguards reflected by the Convention’s limited grounds for denying recognition or enforcement. It secondarily binds signatory states to enforce the arbitration agreements on the basis of which awards under the Convention will be rendered. Despite its exceptionally wide adoption and its broad coverage, the New York Convention depends for its efficacy on the conduct of national actors, and national courts in particular. Depending on the view of international law prevailing in a given State, the Convention may require statutory implementation at the national level. Beyond that, the Convention requires of national courts an apt understanding of the principles and policies that underlie the Convention’s various provisions. Through its in-depth coverage of the understandings of the Convention that prevail across national legal systems, the book gives practitioners and scholars a much-improved appreciation of the New York Convention “on the ground.”