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BUDAPEST TREATY on the INTERNATIONAL RECOGNITION  Form

BUDAPEST TREATY on the INTERNATIONAL RECOGNITION Form

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the new york convention visualized the new york  convention resulted from the un efforts after the   world war to boost cross-border commercial  transactions by enforcing and recognizing   arbitration agreements and foreign arbitral awards  abroad the convention is widely adhered to by most   countries including major trading nations and  it is binding on states that have ratified it   through enactment in the local jurisdiction  the system for enforcement of arbitral awards   depends on whether the place where the award  was made and the place of enforcement are both   signatories to the convention a successful  party can seek to enforce its award in any   country where the losing party may have assets  the scope of the convention is limited only by   reservations concerning reciprocity commercial  dealings and the reference to foreign awards   however the new york convention provides the  following grounds upon which recognition and   enforcement of an a

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