Arzinger: The New York Convention Anniversary - entry into force for Ukraine

The stepping stone for the application of the New York Convention 1958 is a carefully drafted arbitration agreement, which business has to focus on when dealing with commercial transactions.

While the New York Convention 1958 establishes limited grounds for the state courts to deny the recognition and enforcement of the arbitral awards, business has to be aware of the practical pitfalls arising out of this process, in order to utilize the efficiency of the New York Convention 1958.