Wednesday, 10 August 2022
No Result
View All Result
MAAAL NEWS
  • Home
  • العربية
No Result
View All Result
  • Home
  • العربية
No Result
View All Result
MAAAL NEWS
No Result
View All Result

Enforcement of Foreign Arbitration, Rulings, Awards

29 Nov 2021

Deema Al-Sharif

Dima Al-Sharif

Read More

Using Emotions to Inspire and Empower

Compensation for the affected by Mobily

The Historical SAIBOR Surge: What Does it Mean, And How is it Associated with Liquidity?

 Foreign arbitration plays a great important role, in settling international commercial disputes.

Here, we will address the most prominent aspects, related to the implementation of foreign arbitral awards or rulings, in light of the New York Convention, on foreign arbitral rulings and their enforcement.

First, the arbitration rulings mean not only the judgment issued by a tribunal, to decide in specific case, but also the judgment issued by a permanent arbitration court, to which the parties resort, lodging their dispute file.

But what is meant by a foreign arbitration ruling? If the arbitration includes one or more foreign parties, then it is faced with the possibility of being subjected to a foreign law or laws applicable, in a specific country and not necessarily in another, as stipulated in the arbitration (submission) agreement,

or arbitration clause, between the disputing parties.

As for local arbitration, the national law of the country shall be applicable, in the whole dispute settlement procedures and process.

During the implementation of foreign arbitral award, the court of the contracting state, in which a case is held, in reference to the an agreement concluded between the parties, must refer the dispute to arbitration, at the request of one of the parties, except if it appears to the court that the agreement is null and void, non-binding, or that it cannot be implemented, outright.

In addition, each member state must acknowledge the validity of the arbitral award and proceed to implement it, in accordance with the procedures of trial, adopted in that country.

Nor should any harsher terms or higher fees be imposed than the terms and fees involved in implementing national arbitration awards, in the

country.

But what if one of the member states want to withdraw from the implementation of the agreement for any reason? It may go ahead with the withdraw from the agreement, by submitting a written notification to the Secretary-General of the United Nations, and the withdrawal shall take place, after the expiration of a one year period, from the date of receipt of the notification by the Secretary-General.

Regarding arbitration provisions, in respect of what are the necessary measures that were taken for their recognition or implementation, prior to the date of withdrawal, the provisions of the same agreement shall be applicable to them, without change, even following the withdrawal of the contracting state.

In the article, to come, we will dot the (Is) of applying such foreign rulings or awards difficulties, on a foreign party (ies).

لتحميل الملفات المرفق

ديمه-بنت-طلال-الشريف-2.png

  • تحميل
Previous Post

Saudi Arabia’s Public Debt Figures, in the perspective of its int’l bond-holders

Next Post

Probable Sources to Fill the Saudi Budget’s Deficit

Related Posts

The disappointment of “NOPEC Bill”

Can Europe trade its dependency on Russian NatGas for unsustainable US LNG?

Sharing Stories About Local Businesses

Cases of Shareholders’ Right to Claim Compensation

Saudi Arabia still caps local gasoline prices though skyrocketing globally

Do green entrepreneurship practices matter?

Articles

الكاتب

US President visit to Saudi Arabia

Jason M. Brodsky

الكاتب

US-Saudi economic relations are long-standing, important, and need continual maintenance

Dr. Paul J. Sullivan

الكاتب

US President High Stakes Visit to Saudi Arabia Could Save his Presidency

Ellie Cohanim

الكاتب

Using Emotions to Inspire and Empower

Hala Fahad Al Rayes

More
MAAAL NEWS

© 2020 All rights reserved to Maaal Newspaper - Publisher: Maaal International Media Company - License: 465734

Quick links

  • News
  • Articles
  • Maaal

Follow us

No Result
View All Result
  • العربية
  • Home

© 2020 All rights reserved to Maaal Newspaper - Publisher: Maaal International Media Company - License: 465734