New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards

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The 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 arbitration agreements under private law as exclusion of the judicial process and to recognize and enforce arbitral awards from arbitration proceedings conducted in other states. It was signed on June 10, 1958 and entered into force on June 7, 1959.

background

The International Commercial Arbitration ( International Commercial Arbitration ) is a popular means of alternative dispute resolution in international commerce. On the one hand, it usually offers a more flexible way of reaching a solution in the event of disagreements than conventional state jurisdiction, in which the parties can only exercise limited influence over the proceedings. It also enables cross-border legal disputes to be settled in a neutral forum. The New York Convention also enables the international enforcement of arbitral awards made in this way and is often easier to achieve than with foreign court judgments, whose recognition in Germany, for example, depends on the guarantee of reciprocity , § 328 ZPO. The convention always comes into play if the debtor does not voluntarily perform and if the unsuccessful party does not have sufficient assets in the country in which the arbitration award was made (at the so-called arbitration location ), so that enforcement abroad has to be carried out.

Essential content

The New York Convention obliges the member states to recognize and enforce an award made in another state (only if a special reservation is made, this is limited to other member states - normally, arbitral awards from third countries are also favored). The exceptions are finally listed in Art. V of the Convention:

  • Under the law applicable to them, one party was incapacitated.
  • According to the law of the state to which the arbitration agreement was submitted by the parties or the law of the place of arbitration , the arbitration agreement was ineffective.
  • A party was not given a fair hearing because it was not notified of the appointment of the arbitrators or the conduct of the proceedings or was otherwise unable to present the case.
  • The subject of the award was a matter that was not covered by the arbitration agreement
  • The arbitral tribunal was not constituted as agreed or, in the absence of such an agreement, contrary to the rules at the place of arbitration
  • The award was set aside at the place of arbitration
  • The subject of the award could not be decided by arbitration under the law of the executing state (lack of arbitrability )
  • Enforcement would violate public policy in the executing state.

Contracting States

There are 157 contracting states (as of March 2017): 154 members of the United Nations (193 in total), plus the Cook Islands , the Holy See and the State of Palestine . The day of joining is given here; The Convention usually entered into force in the country concerned about three months later:

Web links

See also

Individual evidence

  1. List of signatory states