Entry into force of 1958 New York Convention in DRC
The UN Convention on the Recognition and Enforcement of Arbitral Awards signed in New York on June 10, 1958, (« The New York Convention »), has been ratified in Democratic Republic of the Congo (“DRC”) through Law No 13/023 dated June 26, 2013 authorizing the accession of DRC to the Convention in accordance with article 215 of the Constitution.
In compliance with article 12.2 of the New York Convention, its coming into force with regard to DRC, acceding State, had to be effective within ninety (90) days after the submission of instruments of accession or ratification by DRC. Therefore, since the adoption and enactment of the law referred to above till the submission date of the New York Convention, no party could mention the benefit of the provisions of New York Convention.
The submission of instruments for ratification to the General-Secretary of United Nations, having taken place on November 5, 2014, the New York Convention has come into force on February 3, 2015. Therefore, the Convention may be referred to in DRC and applicable against the same with respect to the enforcement of arbitral awards. Thus, DRC becomes the 153rd State to have accessed to the Convention, which entered into force vis-à-vis the country.
With this entry into force, DRC has just turned over a new leaf in improving the business climate as the country undertakes, not only to recognize, but also to enforce throughout its territory, foreign arbitral awards as it enforces national awards. Needless to say, another milestone has been reached.
In July 2013, we published a topic titled: Accession of DRC to the New York Convention on Arbitration “ http://www.lexology.com/library/detail.aspx?g=21bcec23-a067-4b6f-9c98-a6b3530707a4