In their final update, Richard Marshall , Nicole Finlayson & Clare Arthurs discuss the enforcement of an arbitration award
In this four-part series of articles we have looked at various ways of challenging arbitration awards in the courts under the Arbitration Act 1996 (AA 1996) (see “Arbitration challenge: Pt 1”, 164 NLJ 7623 p 25, “Arbitration challenge: Pt 2”, 164 NLJ 7628 p 35, and “Arbitration challenge: Pt 3”, NLJ, 16 March 2015, p 20). This final article looks at how you can enforce the award, once you have successfully defeated any challenges to it.
Methods of enforcement
A considerable advantage of international arbitration over litigation is the existence of a wide-reaching enforcement regime for foreign arbitration awards: the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (NYC). One hundred and fifty-six countries are signatories to the NYC, each agreeing to recognise and enforce awards made in the territories of the other signatory states (although inevitably with certain reservations for some). The UK is a signatory and has enacted the NYC into domestic
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