Enforcement in Cyprus of a foreign arbitration award
Foreign arbitral awards may be recognised as binding and enforceable in Cyprus under the conditions laid down in the art
It is essential that once an award is made, the successful party to be able to enforce it in the country in which the losing party has assets. To apply for enforcement, an enforceable document (a court judgment or a deed) is needed. There are special rules for having a judgment given in another country declared enforceable. The Convention on the Recognition and Enforcement of Foreign Arbitral Awards passed in New York and incorporated in our Law 84/1979, applies to the recognition and enforcement of awards made in the territory of a State other than the State where the recognition and enforcement of such awards are sought, and arising out of differences between persons, whether physical or legal. Law 121(1)/2000 provides for the procedure which is followed for the registration, recognition and enforcement of judgement of a foreign court in Cyprus.
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