Originally from International Arbitration Law and Practice, Third Edition

There is a general consensus that the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (the New York Convention) is by far the most important international convention in the field of arbitration.1

The Convention boasts 148 Contracting States. Taiwan is still a non signatory to the New York Convention.

It is complemented by the European Convention (1961).

As is well known, despite its heading, the Convention deals:

– not only with recognition and enforcement of arbitral awards
– but also with the validity of arbitration agreements,
– while it does not deal with set aside proceedings.

As the court affirmed in China National:2

“The goals of the Convention [are] expeditious resolution of disputes and avoidance of litigation and Pactrans’s stages.”

The requirements for enforcement were affirmed by the court in Cardoso:3