What is the approximate time required to register and enforce a foreign arbitration award if unopposed?
Around 2-3 months (subject to suspension of the proceedings due to procedural reasons like notification of foreign parties, involvement of experts, etc.).
What is the approximate time required to register and enforce a foreign arbitration award if opposed?
Around 4-5 months (subject to suspension of the proceedings due to procedural reasons like notification of foreign parties, involvement of experts, etc.).
What is the approximate cost of registering and enforcing a foreign arbitration award (including court fees and other disbursements) if unopposed?
USD 5,000 - 8,000 (including relevant legal fees and other disbursements)
What is the approximate cost of registering and enforcing a foreign arbitration award (including court fees and other disbursements) if opposed?
USD 10,000 - 25,000 (including relevant legal fees and other disbursements)
Are there any unusual difficulties in enforcing a foreign arbitration award?
Local courts still may be influenced by local state authorities or tycoons or corrupted.
Therefore, recognition and enforcement of a foreign arbitration award against state companies or local oligarchs may be unreasonably rejected by local courts.