Lagos — The New York Convention of 1958 is the most important development in International Commercial Arbitration this and the last century. It was adopted on June 10, 1958, and came into force on June 7 1959.
It came into force in Nigeria in March 1972. Well over one hundred states and all the Members' States of the European Community (EC) have acceded to or ratified the Convention. It must be noted, however, that not all the Member States which have signed the Convention have effectively implemented it. See KERR "Concord and Conflict in International Arbitration" (1997) 13 Arb. Int. 121 at 130-131 and the comprehensive study of the Convention, by Van Den Berg: "The New York Arbitration Convention of 1958 (1981)."
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