Material Conditions for the Recognition and Execution of Foreign Arbitration Decisions Based on the Legislation of the Republic of Northern Macedonia
Material Conditions for the Recognition and Execution of Foreign Arbitration Decisions Based on the Legislation of the Republic of Northern Macedonia

Summary/Abstract: The essential elements of arbitration that make the decision binding and enforceable are the arbitrator's obligation to resolve the dispute, based on the jurisdiction given to it through the arbitration agreement or the arbitration clause, as well as the basic contract of the parties where their rights and obligations are defined, which are disputable as a result of non-fulfillment. Since the main interest of the parties is to resolve the dispute fairly and as soon as possible, the settlement of the dispute through arbitration, as a more flexible judicial instrument, would help the parties to continue to exercise their activity without being damaged in material and formal aspect. In this regard, it is not enough for the dispute to be resolved by the relevant institution, but the decision must be enforced for the dispute to be resolved. Therefore, when it comes to implementing decisions of foreign arbitration, recognition is required, and it needs to meet the material and formal conditions provided in the national norms. This paper deals with the material conditions that must be met following the Law on Arbitration of the Republic of Northern Macedonia.

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