International documents

Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958) (the "New York Convention")

Serbia is a Contracting State of the New York Convention on Recognition and Enforcement of Foreign Arbitral Awards, meaning that the awards made under the Rules of the Permanent Arbitration will be enforceable in 156 countries around the world.

The 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the New York Convention) requires courts of contracting states to give effect to arbitration agreements and to recognize and enforce arbitration awards made in other contracting states. With 157 countries signatories, The New York Convention is the most important treaty in the field of international commercial arbitration.

The primary advantage of international arbitration over court litigation is enforceability. In that sense, the Convention provides for common legislative standards for the recognition and enforcement of foreign arbitral awards. Also, the aim of the Convention is to ensure that the courts of Parties recognize arbitration agreements by requiring courts to deny the parties’ access to court in contravention of their arbitration agreement and refer the matter to an arbitral tribunal.

Text of the Convention on Recognition and Enforcement of Foreign Arbitral Awards (1958) (New York Convention) in English and Serbian language are available at the bottom of this page.

Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL)

The Rules of the Permanent Arbitration allow the parties in international arbitration to agree that the arbitration procedure will be governed by the “Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL) before the Permanent Arbitration at the Chamber of Commerce and Industry of Serbia”.

The UNCITRAL Arbitration Rules provide a comprehensive set of procedural rules upon which parties may agree for the conduct of arbitral proceedings arising out of their commercial relationship. The Rules cover all aspects of the arbitral process, providing a model arbitration clause, setting out procedural rules regarding the appointment of arbitrators and the conduct of arbitral proceedings, and establishing rules in relation to the form, effect and interpretation of the award.

Text of the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL) before the Permanent Arbitration at the Chamber of Commerce and Industry of Serbia are available in English and Serbian language at the bottom of this page.