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Universul Juridic magazin

The legal framework for the recognition and enforcement of foreign arbitral awards in Republic of Moldova and its compliance with the New York Convention of 1958 standards

The civil procedural legislation of Republic of Moldova has recently been amended in order to improve the legal framework for the recognition and enforcement of the foreign arbitral awards. These changes are in line with the Moldovan Strategy for the justice reform 2011-2016, as well as with the objectives of integrating the international trade circuit in order to ensure a sustainable economic development. This article aims to analyze the Moldovan legal framework and to establish its conformity with the standards of the New York Convention of 1958, to which Republic of Moldova is part. The research is based on a multidimensional study of the legal norms, benchmarked with the international treaties and to the uniform practice related to the efficiency of the foreign arbitral awards.