How to become a party

The Convention is open to accession by any Member State of the United Nations, any other State which is a member of any specialized agency of the United Nations, or is a Party to the Statute of the International Court of Justice (articles VIII and IX).

The New York Convention facilitates the recognition and enforcement of foreign arbitral awards and agreements. It is said to have a pro-enforcement bias. There are many reasons for this bias but two are paramount. First, a major object and purpose of it is ‘to encourage and liberalise the process of recognition and enforcement of awards by decreasing the scope for obstruction by national courts and laws’.³⁸ The second reason is due to the principle of comity. As Justice Prakash stated in the Singapore High Court decision of Hainan Machinery Import & Export Corporation v Donald & McArthy Pte Ltd:³⁹

the principle of comity of nations requires that the awards of foreign arbitration tribunals be given due deference and be enforced unless exceptional circumstances exist. As a nation which itself aspires to be an international arbitration centre, Singapore must recognise foreign awards if it expects its own awards to be recognised abroad.

If the party against whom enforcement of an award is sought does not resist enforcement, the procedure should be very straightforward and akin to quasi-administrative proceedings.⁴⁰ There are very limited grounds in Article V on which a party can resist enforcement.⁴¹

It has already been pointed out that the New York Convention is the foundation stone on which the entire edifice of international commercial arbitration is built. The 135 States that have ratified the Convention have committed themselves to recognizing arbitral agreements and, when one of the parties requests it, referring the parties to arbitration, even when the arbitration is to take place in a foreign country. By making such a commitment they have also agreed that their courts will not exercise jurisdiction over the substance of the dispute so long as either party insists upon the arbitration clause.Similarly, the 135 current parties to the New York Convention have agreed that they will “recognize arbitral awards as binding and enforce them in accordance with the rules of procedure” in force in the State. Those rules may not contain “substantially more onerous conditions or higher fees or charges on the recognition or enforcement of arbitral awards to which this Convention applies than are imposed on the recognition or enforcement of domestic arbitral awards.” The requirements for the enforcement of an award are limited to

(a) the duly authenticated original award or a duly certified copy thereof and

(b) the original agreement referred to or a duly certified copy thereof. If either the award or the agreement is not in an official language of the State where the award is relied upon, a certified translation into the appropriate language must be submitted.

1.c European Convention on International Commercial Arbitration 1961.

Ukraine 21 Apr 1961 18 Mar 1963

Entry into force : 7 January 1964,

Status : Signatories : 16. Parties : 31

1. d. Convention on the Settlement of Investment Disputes Between States and Nationals of Other States (Washington Convention 1965 ) (ICSID) Конвенція про вирішення інвестиційних спорів між державами та іноземними особами (Вашингтонська конвенція 1965 р.); Entered into Force: October 14, 1966 International Centre for Settlement of Investment Disputes (ICSID)

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