7.5 Enforcement of Foreign Arbitral Awards: Practice and Principles

The New York Convention 1958 — the enforcement's cornerstone (the 170-plus parties' near- universality): the framework: the recognition-and-enforcement's obligation; the refusal's limited grounds (the agreement's invalidity; the notice's failure; the excess; the irregular composition; the non-final; the non-arbitrability; the public policy — the court's no-merits-review); the reciprocity- and-commerciality reservations. The practice: the enforcement's efficiency (the assets' jurisdictions — the award's global chase); the state's immunities' contests (the sovereign-debt awards' faces). The Nepal position: Nepal is a party to the New York Convention (the foreign awards' enforcement regime in the Arbitration Act 2055's machinery); the practice's faces (the Nepali parties' foreign awards — the enforcement-and-set-aside's cross-fire; the Kathmandu's-and- abroad seats' choices); the arbitration's development (the CIA's-and-Nepal's institutions; the government-contracts' arbitration clauses — the investment-treaty faces of the Investment Law course).