Enforcement Of Foreign Arbitral Awards Annulled At The Seat

Introduction

Enforcement
of
arbitral
awards
against
a
losing
party
who
refuses
to
comply
voluntarily
with
the
award
 is
consistent
with
the
mutual
intention
of
the
parties
to
resolve
their
differences
through
arbitration
and
 be
 bound
 by
the
resulting
 award.
 In
this
respect,
 judicial
 assistance
 ensures
the
 effectiveness
 of
 arbitration
as
a
private
arrangement
supported
by
national
and
international
legal
order. ¹ Thus,
the ability
to
enforce
arbitral
awards
obtained
in
one
country
within
the
jurisdiction
of
another
country
is
a
 significant
catalyst
for
the
success
of
international
trade
and
commerce.
The
New
York
Convention ² which
facilitates
this
objective,
nonetheless,
contains
normative
grounds
upon
which
enforcement
 courts
may
exercise
discretion
to
refuse
enforcement.