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The Recognition and Enforcement of Foreign Arbitral Awards in the Cases of the U.S. Courts

  • DONG-A LAW REVIEW
  • 2009, (45), pp.387-409
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law

Kim, Yong Eui 1

1동아대학교

Candidate

ABSTRACT

As the volume of international commercial transactions is increasing, the number of disputes arising therefrom is increasing as well. Nowadays the commercial arbitration is very popular means of resolution of such disputes due to the international trend favoring it. One of the main reasons is the UN Convention on the Recognition and Enforcement of Foreign Arbitral Awards (“New York Convention”) upon which the courts of a signatory country such as the US or Korea are bound to enforce foreign arbitration awards. However the Convention also permits the courts to deny the enforcement if enforcement would violate the public policy of their country. This treatise tried to find principles and general attitudes of the US courts in dealing with the claims against the enforcement of foreign arbitral awards based upon the violation of the public policy. The author found such things and summarized the same with five subject titles including “Pro-enforcement policy” after analyzing 70 cases of the US courts including the US Supreme Court. This treatise also compared as much relevant as possible the practices of the Korean courts with those of the US courts and the statutes of the two countries in terms of the recognition and enforcement of foreign arbitral awards. Through the knowledge and understanding of the US courts’ holdings as to the subject of this treatise, the scholars and practitioners can get the empirical idea about the subject area. Since the US business entities are the predominant participants in the globalized commerce who are therefore the majority parties to the international arbitrations, their action to enforce the awards and the US courts experience in dealing with such enforcement will be of good help to the Korean courts, practitioners and scholars.

Citation status

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