Relevant Conventions and Documents

Relevant Conventions and Documents

One of the most relevant convention in the field of international commercial arbitration is the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958). It requires courts of contracting states to give effect to private agreements to arbitrate and to recognize and enforce arbitration awards made in other contracting states and it applies to arbitrations which are not considered as domestic awards in the state where recognition and enforcement is sought.

On European point of view, the next relevant legal document is the European Convention on International Commercial Arbitration (1961), which applies to arbitration agreements concluded for settling disputes arising from international trade between physical or legal persons residing in different Contracting States.

The UNCITRAL Model Law on International Commercial Arbitration reflects the worldwide consensus on key aspects of arbitral process accepted by different states and it is designed to assist States in reforming and modernizing their laws on arbitral procedure.

The UNCITRAL Arbitration Rules provides a set of procedural rules upon which parties may agree for the conduct of arbitral proceedings arising out of their commercial relationship. These rules are widely used both in ad hoc arbitration and in permanent arbitration institutions.

In addition with these conventions and documents, arbitration process is regulated by other regional conventions, such as Inter-American Convention on International Commercial Arbitration, and Conventions covering certain subject matters, such as the EU Tax Arbitration Convention, as well as national arbitration laws.