With slight modifications, the Council submitted the convention to the International Conference in the Spring of
Under the Arbitration and Conciliation Amendment Act, There are two avenues available for the enforcement of foreign awards in India, viz.
The New York Convention defines "foreign award" as an arbitral award on differences between persons arising out of legal relationships, whether contractual or not, considered as commercial under the law in force in India, made on or after the 11th day of October, In pursuance of an agreement in writing for arbitration to which the Convention set forth in the First Schedule applies, and In one of such territories as the Central Government, being satisfied that reciprocal provisions have been made may, by notification in the Official Gazette, declare to be territories to which the said Convention applies.
The country must be a signatory to the New York Convention. The award shall be made in the territory of another contracting state which is a reciprocating territory and notified as such by the Central Government. Section 47 provides that the party applying for the enforcement of a foreign award shall, at the time of the application, produce before the court a original award or a duly authenticated copy thereof; b original arbitration agreement or a duly certified copy thereof; and c any evidence required to establish that the award is a foreign award.
As per the new Act, the application for enforcement of a foreign award will now only lie to High Court. Once an application for enforcement of a foreign award is made, the other party has the opportunity to file an objection against enforcement on the grounds recognized under Section 48 of the Act.
Provided that, if the decisions on matters submitted to arbitration can be separated from those not so submitted, that part of the award which contains decisions on matters submitted to arbitration may be enforced; or the composition of the arbitral authority or the arbitral procedure was not in accordance with the agreement of the parties, or, failing such agreement, was not in accordance with the law of the country where the arbitration took place; or the award has not yet become binding on the parties, or has been set aside or suspended by a competent authority of the country in which, or under the law of which, that award was made.
The Amendment Act has restricted the ambit of violation of public policy for international commercial arbitration to only include those awards that are: It is further provided that if an application for the setting aside or suspension of the award has been made to a competent authority, the Court may, if it considers it proper, adjourn the decision on the enforcement of the award and may also, on the application of the party claiming enforcement of the award, order the other party to give suitable security.
Section 49 provides that where the Court is satisfied that the foreign award is enforceable under this Chapter, the award shall be deemed to be a decree of that Court. Enforcement under the Geneva Convention Sections of the Arbitration and Conciliation Amendment Act, contains provisions relating to foreign awards passed under the Geneva Convention.
The conditions for enforcement of foreign awards under the Geneva Convention are provided under Section 57 of the Arbitration and Conciliation Act, These are as follows: Provided that if the award has not covered all the differences submitted to the arbitral tribunal, the Court may, if it thinks fit, postpone such enforcement or grant it subject to such guarantee as the Court may decide.
Furthermore, if the party against whom the award has been made proves that under the law governing the arbitration procedure there is any other ground, entitling him to contest the validity of the award, the Court may, if it thinks fit, either refuse enforcement of the award or adjourn the consideration thereof, giving such party a reasonable time within which to have the award annulled by the competent tribunal.
Section 58 provides that where the Court is satisfied that the foreign award is enforceable under this Chapter, the award shall be deemed to be a decree of the Court. OUTLOOK The design of the new Act is based on the premise that it will provide an efficient and swift method of dispute resolution for both the domestic as well as international investors.
Section 44 of the Arbitration and Conciliation Amendment Act, 2. Section 53 of the Arbitration and Conciliation Amendment Act, The content of this article is intended to provide a general guide to the subject matter.
Specialist advice should be sought about your specific circumstances. To print this article, all you need is to be registered on Mondaq. Click to Login as an existing user or Register so you can print this article.A party opposing recognition and enforcement of a foreign arbitral award bears the burden of proving that the award should not be recognised and enforced under the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention).
While in the case of the Russian arbitral award national rules of enforcement were applicable, leave for enforcement of foreign arbitral awards in the Netherlands is usually granted on the basis on the New York Convention, which was ratified by the Netherlands in Enforcement trends appear to vary by region, with courts in some provinces demonstrating an increased willingness over courts in other regions to enforce foreign arbitral awards.
The average time for a PRC court to decide whether to enforce a foreign arbitral award is just under one year. Enforcing International Arbitral Awards in U.S.
Courts The treaty applied most often is the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, more commonly known as the New York Convention. Numerous courts have required personal or quasi in rem jurisdiction in enforcing a foreign arbitral award.
A foreign arbitration award is defined as “an award rendered by foreign arbitration either inside or outside the territory of Vietnam.”  Only final arbitral awards that were not set aside by the foreign country’s Court of the seat of arbitration are subject to .
82 rows · The Convention on the Recognition and Enforcement of Foreign Arbitral .