Challenges in the Process of Recognition and Enforcement of Foreign Arbitral Awards in the Republic of North Macedonia
摘要
Arbitration is increasingly becoming the preferred method for the resolving of international cross-border disputes among business persons. One of the main advantages of arbitration is that arbitral awards are more easily recognized and enforced than judicial awards, mainly due to the New York Convention. Consequently, the process of recognition and enforcement of foreign arbitral awards has a pivotal role in facilitating international trade and investment by providing a mechanism that enables the parties to easily enforce awards rendered in arbitration proceedings. In the Republic of North Macedonia, as in many countries of the Western Balkans, arbitration is still in its early stages, and arbitration practice remains relatively low. As a result, arbitration-related issues pose challenges to national courts and all relevant stakeholders. While national courts have a pro-arbitration attitude, there were some instances in the past where the courts, and the legal system at large, have failed to adhere to international standards to the detriment of the parties involved in the arbitration process. The chapter aims to provide an analysis of the challenges that have arisen in the past concerning the recognition and enforcement of arbitral awards, through the analysis of the laws and procedures related to the process, as well as an analysis of relevant case law.