VARIOUS ASPECTS REGARDING THE SCOPE OF APPLICATION OF THE CONVENTION ON THE RECOGNITION AND ENFORCEMENT OF FOREIGN ARBITRAL AWARDS ADOPTED IN NEW YORK ON 10 JUNE 1958
VARIOUS ASPECTS REGARDING THE SCOPE OF APPLICATION OF THE CONVENTION ON THE RECOGNITION AND ENFORCEMENT OF FOREIGN ARBITRAL AWARDS ADOPTED IN NEW YORK ON 10 JUNE 1958

Summary/Abstract: International arbitration has become nowadays a frequent practice of international dispute resolution. Taking this aspect into account, the states adapted their national legislations in compliance with the international law requirements and concluded international treaties, and on their base conferred a more liberal regime to the effects produced by an arbitral award rendered in one of the contracting states on the territory of other contracting states. The most important multilateral convention in this field is the United Nations Organization on the Recognition and Enforcement of Foreign Arbitral Awards adopted at New York, on 10 June 1958 to which Romania adhered through the Decree no 186 on 24 July 1961. The Convention is applied as concerns the recognition and enforcement of foreign arbitral awards on the territory of the other contracting states. As concerns the awards from the non-contracting states, the Convention applies only on the basis of reciprocity established through the agreement between parties.

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