Overview of the recognition and enforcement of international commercial arbitration

Abstract

The subject. This informational article is devoted to the peculiarities of recognition and enforcement of international commercial arbitration awards according to different countries’ legislation and international legal regulation.
The purpose of the article is to identify legal patterns of recognition and enforcement of international commercial arbitration awards in different countries.
Methodology. The study is based on comparative law and formal law methods, analysis and synthesis.
Results, scope of application. Enforcement of arbitral awards in foreign countries is ensured and guaranteed by multilateral conventions, bilateral treaties and national legislation. The New York Convention 1958 in a certain way limits the scope of legal protection of arbitral awards and leaves the procedure for recognition and enforcement of arbitral awards for consideration of the state court. The author analyses of differentiation of the recognition and enforcement regime of so-called "domestic" and "foreign" solutions of international commercial arbitration in terms of doctrinal approaches and practice of foreign countries. Special attention is given to the analysis of foreign arbitral awards of recognition and enforcement procedures is given to a denial of recognition and enforcement of foreign arbitral awards and their reasons. In spite of the explicit grounds for refusal of recognition and enforcement of foreign arbitral awards in New York Convention 1958, some countries try to establish certain exceptions to the rule in the national legislation. Results may be applicable in improvement of international legal regulation.
Conclusions. The courts of the countries – participants of the New York Convention 1958 cannot cancel the foreign arbitral award or revise it substantially. The refutation of this award is possible only in the court of the state in whose territory the relevant arbitral award was made, and such court is not formally bound by the rules of the New York Convention 1958, when deciding whether to cancel or modify the award.