News
2001

New York Convention enters into force in Albania

The United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention) entered into force in Albania on 25 September 2001, three months after Albania's unreserved accession to the Convention on 27 June 2001.

The New York Convention may be considered as the most important multilateral treaty on international arbitration. It requires courts in contracting states to recognize arbitration agreements in writing and to refuse to allow a dispute to be litigated before them when it is subject to an arbitration agreement. It also requires courts to recognize and enforce foreign arbitral awards.

Instrumental in its creation, the ICC International Court of Arbitration was at the forefront of the movement that led to the adoption of the Convention in New York on 10 June 1958.

For a full list of contracting states, please see the UNCITRAL Web site.