Getting the Deal Through - Arbitration 2017
June 6, 2017
Laws and institutions (page 144)
1. Multilateral conventions relating to arbitration
Is your country a contracting state to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards? Since when has the Convention been in force? Were any declarations or notifications made under articles I, X, and XI of the Convention? What other multilateral conventions relating to international commercial and investment arbitration is your country a party to?
France signed the New York Convention on 25 November 1958, and it was ratified on 26 June 1959 and entered into force on 24 September 1959. At the time of the ratification, France exercised its right under article I(3) to declare that it would apply the Convention on the basis of reciprocity, that is to say to the recognition and enforcement of awards made in other contracting states. In reality, this reservation is more theoretical than anything else, because codified French arbitration law itself does not contain any such limitation, and article VII(1) of the Convention confirms that the Convention does not deprive parties of more favourable rights they might enjoy under the law of the country in which enforcement of the foreign award is sought.
A further reservation of made by France under article I(3), and which limited application of the Convention to differences that could be considered under French law to be commercial in nature, was withdrawn in November 1989.Download the full article here.