GLOSSARY TERM
	Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention)
	DESCRIPTION
	The Convention on the Recognition and Enforcement of Foreign Arbitral Awards, also known as the New York Convention, was adopted by a United Nations diplomatic conference on 10 June 1958 and entered into force on 7 June 1959. The Convention requires courts of contracting states to give effect to private agreements to arbitrate and to recognise and enforce arbitration awards made in other contracting states. Widely considered the foundational instrument for international Arbitration, it applies to arbitrations which are not considered as domestic awards in the state where recognition and enforcement is sought. Though other international conventions apply to the cross-border enforcement of arbitration awards, the New York Convention is by far the most important. Following Reunification the Government of the PRC extended the territorial application of the New York Convention to Hong Kong. Under the Arbitration Ordinance, Mainland arbitral awards made in the territory of states which are signatories to the New York Convention, as well as arbitral awards made by a recognised Mainland arbitral authority, are enforceable in Hong Kong.