The Problem of Recognition-Enforcement of Arbitration Award and Its Analysis In Georgian Legal Reality

Abstract

The modern legal world has broken the myth of the court a long time ago, as the only body where justice can be administered. Today, everyone knows an arbitration as an alternative method of dispute resolution. As the Law of Georgia on arbitration says, the arbitration award rendered by on arbitral tribunal on the basis of a valid arbitration agreement is final and binding for the parties (the Law of Georgia on Arbitration, 2019). However, the arbitration award shall be subject to the specific procedures for its recognition and enforcement. The research aims to study the problems raised around this issue and the ways of their solution, along with positive trends.

Apart from national and international legal literature, the thesis analyzed Georgian judicial practice as well. Considering the above, the features related to the recognition and enforcement of the arbitration award were studied in depth. The Convention on Recognition and Enforcement of Foreign Arbitration Awards and the Law of Georgia on Arbitration adopted in 2009 on the basis of the UN Model Law within the framework of UNCITRAL (Kekenadze G.,Tkemaladze S.,“A guide to arbitration”, 2017, p:1) played an important role in the research under which the main aspects, procedures, exceptions, grounds for refusal were determined. Accordingly, as a result of the research, it was established that the issue of recognition and enforcement of the arbitration award is one of the actual problems.

In addition, the thesis elaborates the existing court decisions on the mentioned issue, emphasizes progressive opinions and explanations. Modern challenges in the Georgian legal reality were not left behind in the research, their positive or negative effects were evaluated.

The research confirmed that the development of arbitration as an alternative method of dispute resolution is accompanied by changes in the modern legal world. The increased role of the mentioned institution in the business sector has become visible. The relevance of the issue of recognition and enforcement of the arbitration award in national law was clearly substantiated and, at the same time, the gaps in the law were shown.

Based on the knowledge gained during the working on the thesis, recommendations were made in the conclusion regarding the alternatives to solve the above-mentioned problematic issues, and proposed various ways for more smooth and simplified procedures for the recognition and enforcement of arbitration awards in the future.