How Countries Can Fully Implement the New York Convention
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.
| Main Authors: | , |
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| Format: | Brief biblioteca |
| Language: | English |
| Published: |
World Bank, Washington, DC
2019-12-30
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| 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 https://hdl.handle.net/10986/33123 |
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dig-okr-10986331232024-10-10T23:48:19Z 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 Fiche Resumen 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 https://hdl.handle.net/10986/33123 English FCI In Focus CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf text/plain World Bank, Washington, DC |
| institution |
Banco Mundial |
| collection |
DSpace |
| country |
Estados Unidos |
| countrycode |
US |
| component |
Bibliográfico |
| access |
En linea |
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dig-okr |
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biblioteca |
| region |
America del Norte |
| libraryname |
Biblioteca del Banco Mundial |
| language |
English |
| topic |
NEW YORK CONVENTION ARBITRATION INTERNATIONAL LAW SETTLEMENT OF INVESTMENT DISPUTES TRADE AND INVESTMENT BUSINESS ENVIRONMENT ENFORCEMENT FOREIGN ARBITRAL AWARD 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 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 |
| 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 |
| topic_facet |
NEW YORK CONVENTION ARBITRATION INTERNATIONAL LAW SETTLEMENT OF INVESTMENT DISPUTES TRADE AND INVESTMENT BUSINESS ENVIRONMENT ENFORCEMENT FOREIGN ARBITRAL AWARD |
| 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 |
| title_short |
How Countries Can Fully Implement the New York Convention |
| title_full |
How Countries Can Fully Implement the New York Convention |
| title_fullStr |
How Countries Can Fully Implement the New York Convention |
| title_full_unstemmed |
How Countries Can Fully Implement the New York Convention |
| title_sort |
how countries can fully implement the new york convention |
| publisher |
World Bank, Washington, DC |
| publishDate |
2019-12-30 |
| 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 https://hdl.handle.net/10986/33123 |
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| _version_ |
1813416907126079488 |