How Countries Can Fully Implement the New York Convention : A Critical Tool for Enforcement of International Arbitration Decisions

The year 2018 marked the 60th anniversary of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, the most important international convention in the area of international commercial arbitration. The Convention is a...

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Main Authors:	Forneris, Xavier, Mocheva, Nina
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2020
Subjects:	NEW YORK CONVENTION ARBITRATION INTERNATIONAL LAW SETTLEMENT OF INVESTMENT DISPUTES TRADE AND INVESTMENT BUSINESS ENVIRONMENT ENFORCEMENT FOREIGN ARBITRAL AWARD
Online Access:	http://documents.worldbank.org/curated/en/726311577800894244/How-Countries-Can-Fully-Implement-the-New-York-Convention-A-Critical-Tool-for-Enforcement-of-International-Arbitration-Decisions http://hdl.handle.net/10986/33123

id	okr-10986-33123
recordtype	oai_dc
spelling	okr-10986-331232021-05-25T10:54:39Z How Countries Can Fully Implement the New York Convention : A Critical Tool for Enforcement of International Arbitration Decisions Forneris, Xavier Mocheva, Nina NEW YORK CONVENTION ARBITRATION INTERNATIONAL LAW SETTLEMENT OF INVESTMENT DISPUTES TRADE AND INVESTMENT BUSINESS ENVIRONMENT ENFORCEMENT FOREIGN ARBITRAL AWARD The year 2018 marked the 60th anniversary of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, the most important international convention in the area of international commercial arbitration. The Convention is also said to be the most successful international treaty in the area of private international law. This note primarily targets policy makers and their legal advisors in countries looking at ways to improve their business environment, to become more attractive locations for trade and investment, through better dispute resolution options for international transactions. First, the note explains that international commercial arbitration, as part of countries' legally recognized dispute resolution options, is critical to cross-border contract enforcement. As countries strengthen their international arbitration regimes, they improve their competitiveness in international markets and increase investment and trade by reducing transaction risks and the cost of new infrastructure projects. Countries can improve their international commercial arbitration systems by passing modern legislation consistent with international best practice, ratifying international arbitration conventions, strengthening judicial capacity to enforce arbitral awards, and investing in local arbitration centers. 2020-01-03T15:29:24Z 2020-01-03T15:29:24Z 2019-12-30 Brief http://documents.worldbank.org/curated/en/726311577800894244/How-Countries-Can-Fully-Implement-the-New-York-Convention-A-Critical-Tool-for-Enforcement-of-International-Arbitration-Decisions http://hdl.handle.net/10986/33123 English FCI In Focus CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Brief
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	NEW YORK CONVENTION ARBITRATION INTERNATIONAL LAW SETTLEMENT OF INVESTMENT DISPUTES TRADE AND INVESTMENT BUSINESS ENVIRONMENT ENFORCEMENT FOREIGN ARBITRAL AWARD
spellingShingle	NEW YORK CONVENTION ARBITRATION INTERNATIONAL LAW SETTLEMENT OF INVESTMENT DISPUTES TRADE AND INVESTMENT BUSINESS ENVIRONMENT ENFORCEMENT FOREIGN ARBITRAL AWARD Forneris, Xavier Mocheva, Nina How Countries Can Fully Implement the New York Convention : A Critical Tool for Enforcement of International Arbitration Decisions
relation	FCI In Focus
description	The year 2018 marked the 60th anniversary of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, the most important international convention in the area of international commercial arbitration. The Convention is also said to be the most successful international treaty in the area of private international law. This note primarily targets policy makers and their legal advisors in countries looking at ways to improve their business environment, to become more attractive locations for trade and investment, through better dispute resolution options for international transactions. First, the note explains that international commercial arbitration, as part of countries' legally recognized dispute resolution options, is critical to cross-border contract enforcement. As countries strengthen their international arbitration regimes, they improve their competitiveness in international markets and increase investment and trade by reducing transaction risks and the cost of new infrastructure projects. Countries can improve their international commercial arbitration systems by passing modern legislation consistent with international best practice, ratifying international arbitration conventions, strengthening judicial capacity to enforce arbitral awards, and investing in local arbitration centers.
format	Brief
author	Forneris, Xavier Mocheva, Nina
author_facet	Forneris, Xavier Mocheva, Nina
author_sort	Forneris, Xavier
title	How Countries Can Fully Implement the New York Convention : A Critical Tool for Enforcement of International Arbitration Decisions
title_short	How Countries Can Fully Implement the New York Convention : A Critical Tool for Enforcement of International Arbitration Decisions
title_full	How Countries Can Fully Implement the New York Convention : A Critical Tool for Enforcement of International Arbitration Decisions
title_fullStr	How Countries Can Fully Implement the New York Convention : A Critical Tool for Enforcement of International Arbitration Decisions
title_full_unstemmed	How Countries Can Fully Implement the New York Convention : A Critical Tool for Enforcement of International Arbitration Decisions
title_sort	how countries can fully implement the new york convention : a critical tool for enforcement of international arbitration decisions
publisher	World Bank, Washington, DC
publishDate	2020
url	http://documents.worldbank.org/curated/en/726311577800894244/How-Countries-Can-Fully-Implement-the-New-York-Convention-A-Critical-Tool-for-Enforcement-of-International-Arbitration-Decisions http://hdl.handle.net/10986/33123
_version_	1764478049345077248

How Countries Can Fully Implement the New York Convention : A Critical Tool for Enforcement of International Arbitration Decisions

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