60 Years Of The New York Convention

Introduction

The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards ("New York Convention" or "Convention") was concluded on 10 June 1958. This year, the New York Convention celebrates its 60th anniversary. The Convention has immensely influenced the field of international arbitration, and is accepted as one of the most successful treaties in the area of commercial law. The Convention has also influenced many international texts, and has served as a model. Notable examples include the UNCITRAL Model Law on International Commercial Arbitration ("Model Law"), and the UNCITRAL Arbitration Rules. It should be noted that the International Arbitration Act numbered 4686 is based on the Model Law, as well.