The Convention on the Recognition and Enforcement of Foreign Arbitral Awards was adopted in New York on 10 June 1958, at the United Nations Conference on International Commercial Arbitration (20 May–10 June). Article XVI: the Chinese, English, French, Russian and Spanish texts are equally authentic; deposit in the archives of the United Nations; the Secretary-General transmits certified copies. It is not the Geneva Protocol of 1923, not the Geneva Convention of 1927 and not the 1985 UNCITRAL Model Law. Article VIII: open for signature until 31 December 1958; ratifications are deposited with the Secretary-General. Article IX: accession for the States referred to in Article VIII.
Article I: it applies to awards made in the territory of a State other than the one where recognition and enforcement are sought, and to awards not considered as domestic. On becoming bound, a State may declare, on the basis of reciprocity, that it will apply the Convention only to awards made in the territory of another Party, and only to relationships considered commercial under its domestic law. Article II: recognition of written arbitration agreements. Article III: awards are recognized as binding and enforced in accordance with the rules of procedure of the forum. A filing guide or an enforcement-evasion handbook is not set out here.
Article V, at framework level: refusal at the request of the party against whom the award is invoked, for incapacity, invalid agreement, lack of notice, excess of mandate, composition of the tribunal, or an award not yet binding or set aside; and, of the court's own motion, subject-matter not capable of arbitration or public policy. Article VII: it does not affect more favourable treaties; the Geneva Protocol and Convention cease to have effect between Contracting States to the extent that they become bound by this Convention.
Article XII: it comes into force on the ninetieth day following the deposit of the third instrument of ratification or accession; for other States, likewise on the ninetieth day after their instrument. It entered into force on 7 June 1959. Article XIII: denunciation effective after one year. Article XIV: a Contracting State may not avail itself of the Convention against others except to the extent that it is itself bound to apply it.
Cover: the delegates' lounge at United Nations Headquarters in New York, place of the conference; we do not claim the 1958 hall. Wikimedia Commons, free licence.
Sources consulted: Convention on the Recognition and Enforcement of Foreign Arbitral Awards; Convention on the Recognition and Enforcement of Foreign Arbitral Awards (UNCITRAL).
0 Comments
No comments on this article yet. Be the first!