The Recognition And Enforcement Of Foreign Arbitral Awards In International Commercial Arbitration

The increase in international trade creates a growing number of disputes between parties from different states.International commercial arbitration is the most preferred mechanism to settle disputes in international trade.If the losing party does not voluntarily comply with the foreign arbitral award,the winning party should apply for the recognition and implementation of the foreign arbitral award in order to get the compensation.Palestine,the primary focus of this study,is one of those developing states that lack a legal framework that would properly address the disputes of the Implementation of the foreign arbitral award,especially since Palestine recently joined the New York Convention in 2015.It ’is imperative that Palestine formulate proper laws in order to keep pace with the developments on the international commercial arbitration,new developments in technology and the way in which modern commercial arbitration happens.In this context,instead of re-inventing the wheel,this study aims to discover experiences,with their challenges and benefits,of other more developed jurisdictions,lessons of which Palestine can absorb,and,in specific,the study will examine and compare respective legislation of China as a developed state.This study examines and critically analyses the extent to which the foreign arbitral award is recognizable and implementable.The significance of recognition and implementation comes from the fact that arbitration is considered to be of no value if its award is not implementable.With this in mind,this study argues that when recognition and implementation are performed with minimal procedural delay,the use of arbitration will be increased and vice-versa.The performance of recognition and implementation depends on the effectiveness of the systems that are provided for this aim in the forum venue.From this perspective,a challenge for the applicable systems is to provide effective methods of implementation under which the winning party can recognize and implement a foreign arbitral award.This study is intended to explore Palestinian’s legislative landscape related to recognition and implementation of the foreign arbitral award by analyzing and comparing Palestinian’s current and proposed legislation to one of the international best practices which is China,as an example of advanced jurisdiction.The study is aimed to examine the laws regulating to recognition and implementation of the foreign arbitral award in Palestine in contrast to international trends and arbitration laws of China.The study aims to compare and contrast provisions related to the recognition and implementation of the foreign arbitral award under Palestinian and Chinese law.Existing laws and regulations governing recognition and implementation of the foreign arbitral award in China will be assessed in comparison to Palestine,in order to identify merits of each legal framework which would potentially pave the way for recommendations to be proffered to Palestinian’s legislators in their attempt to shape the needed regulatory instruments.Through the research of the recognition and implementation of the foreign arbitral awards in Palesting,Palestine still has a long way to go in this regard,and it will take a considerable period of time for Palestinian’s arbitration statutes to catch up with Chinese experiences of arbitration.What Palestine need to do now is to constantly explore experience in practice,and to continuously learn from Chinese legislative and judicial experiences.Palestine is encouraged to consider the experience of Chinese jurisdictions in the field of recognition and implementation of the foreign arbitral award in the related legislative instruments in order to meet the requirements dictated by the new reality.Thus,this study.may very well serve good for the Palestinian legislators looking into the modernization of the legal landscape in the field of recognition and implementation of the foreign arbitral award.