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UNCITRAL Secretariat Guide on the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958)

image of UNCITRAL Secretariat Guide on the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958)

The New York Convention has served as the cornerstone of the international arbitration system since its signature in 1958 until the present day. The Guide on the New York Convention provides an insight on the application of the Convention by State courts. It was initiated in 2010 on the basis of resolution 62/65 of 6 December 2007, when UNCITRAL commissioned the assistance of Professors Gaillard and Bermann as part of its efforts to promote wider adherence to the text of the New York Convention as well as its uniform interpretation and effective implementation. The interpretation that derives from court decisions of diverse jurisdictions makes the Guide a unique tool to understand the New York Convention, an almost universally adopted text, and to monitor its application. It gives expression to the principal finding that the contracting States have interpreted and applied the New York Convention in a consistent manner, and that the Convention continues to fulfill its purpose of facilitating the worldwide recognition and enforcement of arbitral awards to the greatest extent possible. The Guide will no doubt be widely used: as part of UN capacity building efforts, by academics, practitioners, and of course judges faced with decisions on the application of the Convention.

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Article 3

Each Contracting State shall recognize arbitral awards as binding and enforcethem in accordance with the rules of procedure of the territory where the award is relied upon, under the conditions laid down in the following articles. There shall not be imposed 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.

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