PELLA PALING ME Narsed Pacarantee PMTARIA.
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3
territory of any of the Contracting States, subject to
certain conditions.
New York Convention
4.
Geneva
a
it
The New York Convention largely supersedes the
Protocol and Geneva Convention (Article VII). It is
considerable improvement upon the Geneva Convention since
provides for a much simpler and more effective method of
recognition and enforcement of foreign awards.
replaces the Geneva Convention as between states which
are parties to both Conventions. It also provides for
obtaining
It
The New York
recognition of a wider range of arbitration agreements than
those covered under the Geneva Protocol.
Convention replaces the Geneva Protocol as between States
which are bound by both.
5.
So far as recognition of awards is concerned, a
state bound by the Convention undertakes to respect the
binding effect of awards to which the Convention applies.
Such awards may be relied upon, by way of defence or
set-off
in
any legal
proceedings concerning the
subject-matter of the award commenced in the courts of the
state concerned.
So far as enforcement is concerned, a
state which is a party to the Convention undertakes to
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