Arbitral Award Recognition and Enforcement: 5 Important Practical Tips
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Introduction
Arbitral Award Recognition and Enforcement constitutes the legal mechanism, against whom the result arbitral dispute acquires real legal effect. Notwithstanding the fact, that both national legislation, and international legal framework, arbitral awards recognition and enforcement issues relatively clearly regulate, in practice numerous formal and procedural issue arises , the disregard of which may may significantly impede or altogether impossible render the relevant request's satisfaction. for this reason therefore, it is important, that a party in advance assess both the documents to be submitted accuracy and completeness, and it legal grounds, which may the Court to Grounds for Refusal refusal ..
It should be noted that the recognition and enforcement of arbitral awards rendered in Georgia is carried out by the Court of Appeals, while the recognition and enforcement of a foreign arbitral award is handled by the Supreme Court.
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1. State Fee Must Be Transferred Local Account
Arbitral Award recognition and enforcement procedure upon commencement one-one first Practical issue is state fee's proper manner payment. it is important, that state Fee transferred Must Be registered in Georgia Account. The fee is paid to the State Treasury, and therefore payment from a foreign account is not possible.
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2. The Power of Attorney Explicitly Must Must Be Stated the relevant Authority
Important attention requires representative's authority Properly definition. specifically, The Power of Attorney clearly and unambiguously Must Must Be Stated, that the representative granted has Authority arbitral Award recognition and enforcement matters. only general entry of representation regarding may not prove to be sufficient. Practical perspective, it is advisable, power of attorney's text Explicitly be reflected both Award recognition, and its enforcement with the request related to Authority, so that to exclude in the process additional questions or formal deficiencies.
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3. The Court Must must be submitted arbitral Agreement Original
Arbitral Award recognition and enforcement for the purpose to the court to be submitted documentation among special significance is attached arbitral Agreement original. this context as the original is considered wet signature executed agreement. the aforementioned requirement is essential, because for this reason arbitral agreement constitutes the legal the legal basis, which confirms the parties' intent dispute arbitral manner resolution on. accordingly, if the Court not was submitted proper form executed Agreement Original, request's satisfaction may complicate.
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4. Grounds for Refusal Basis may May Include Party's Improper Notification or of Interest Protection Opportunity Restriction
Notwithstanding the fact, if which country was rendered arbitral award, its Recognition and Enforcement not is automatic. may lead the court may refusal refuse Award recognition and on enforcement, if it party, against whom the award has been rendered rendered, with an application applies to the Court and confirms, that it not was duly informed arbitrator's appointment or arbitral proceedings regarding, or or otherwise not was given the opportunity, to present its own position and defend its interests. the aforementioned Basis particularly it is important, because it is linked to fair proceedings, equality and Protection right fundamental principles.
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5. Foreign-Language Documents Must Must Be Properly Translated into Georgian language
Arbitral Award recognition and enforcement request's when submitting special attention Must must be paid of documents linguistic compliance. if arbitral award or arbitral agreement is drafted foreign language, the Court Must must be submitted their Properly certified translation into Georgian language. Minsk An award submitted from a member state of the Minsk Convention does not require apostille or legalization. the aforementioned request's non-compliance may may cause procedural delays and complicate the case's thoroughly hearing. accordingly, Practical perspective, it is important, that all Foreign-Language document in advance Must Be correctly translated and proper manner certified.