Bhutan and Guyana join New York Convention
On 25 September 2014 Bhutan and Guyana deposited instruments of accession to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (“New York Convention”).
Bhutan has reserved its
application of the Convention to the recognition and enforcement of awards made
in the territory of another contracting state and to differences arising out of
legal relationships, whether contractual or not, that are considered commercial
under the national law. Guyana, on the other hand, has made no reservations.
The Convention will enter
into force for both countries on 24 December 2014.
These two new
signatories bring the total number of states that have adopted the New York
Convention to 152. The complete list of states is available on the UNCITRAL