For information only - not an official document
26 September 2014
Bhutan and Guyana accede to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards
VIENNA, 26 September (UN Information Service) - Bhutan and Guyana have deposited instruments of accession to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, commonly known as the New York Convention. An accession ceremony took place during the annual Treaty Event held at United Nations Headquarters in New York. With their accessions, Bhutan and Guyana become the 151st and 152nd State parties to the Convention. The Convention will enter into force for both countries on 24 December 2014.
The New York Convention is widely recognized as a foundation instrument of international arbitration. It requires courts of contracting States to give effect to arbitration agreements and to recognize and enforce awards made in other States, subject to specific limited exceptions.
Further information on UNCITRAL texts is available on the UNCITRAL website at www.uncitral.org.
The United Nations Commission on International Trade Law (UNCITRAL) is the core legal body of the United Nations system in the field of international trade law. Its mandate is to remove legal obstacles to international trade by progressively modernizing and harmonizing trade law. It prepares legal texts in a number of key areas such as international commercial dispute settlement, electronic commerce, insolvency, international payments, sale of goods, transport law, procurement and infrastructure development. UNCITRAL also provides technical assistance to law reform activities, including assisting Member States to review and assess their law reform needs and to draft the legislation required to implement UNCITRAL texts. The UNCITRAL Secretariat is located in Vienna, Austria.
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