Payment of non-implementation of the Foreign Arbitral award in accordance with the New York Convention, 1958

Abstract

        Commercial Arbitration has become the most important way to solve the deputies raised from the international commercial contracts as it is considered to be the preferred method for the parties of such kinds of contracts.

         To achieve the purposes of commercial arbitration , the award which issued by the arbitral tribunal must be apply in the state of the person who obliged according to it . Without this obligation , the arbitration will not reach its goals. 

         The Convention of Recognition and Enforcement of foreign Arbitration Awards ( New York Convention) states on that, with exemptions inserted in the fifth article of this convention. This research will be on the first section of this convention which about the reasons of this exemption related to the award itself.