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Part VI The Post-Award Phase, 29 Enforcement of Investment Treaty Awards

August Reinisch

From: Arbitration Under International Investment Agreements: A Guide to the Key Issues (2nd Edition)

Edited By: Katia Yannaca-Small

From: Investment Claims (http://oxia.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved. date: 01 October 2023

Awards — Recognition and enforcement

Investment arbitration between States and private parties is mostly pursued according to the International Centre for Settlement of Investment Dispute (ICSID) Convention and under various institutional or ad hoc arbitration rules leading to arbitral awards, which are regarded as foreign arbitral awards in the sense of the 1958 Convention on the Recognition and Enforcement of Foreign Arbitral Awards. This chapter distinguishes between enforcement possibilities offered by the New York Convention for non-ICSID awards and the special enforcement regime for ICSID awards laid down in the ICSID Convention. In the majority of that fraction of cases in which host States were found to have incurred liability, the awards seem to have been voluntarily complied with.

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