Arbitration is a form of alternative dispute resolution (ADR) in which the parties to a dispute agree to have their dispute resolved by one or more arbitrators instead of by a court. One of the notable features of arbitration is the finality and enforceability of arbitral awards (“awards“). This means that an award is binding on the parties and can be enforced in the courts of any country that is a signatory to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (“New York Convention“).
As of October 2023, there are 172 countries that are signatories to the New York Convention, with Timor-Leste (East Timor) being the latest. Cambodia became a party to the New York Convention on 5 January 1960.
In this article, we discuss:
- the legislation applicable to the recognition and enforcement of awards;
- the procedures applicable under the above-mentioned legislation;
- grounds for setting aside awards; and
- challenges faced in the recognition and enforcement of awards.
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