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An award is not the same as payment
A favourable award does not transfer money into your account automatically. If payment is not voluntary, consider where the award will be used and where assets may be located. For Türkiye, the character of the award, relevant treaties and applicable procedure need to be assessed together.
What does the New York Convention provide?
The 1958 New York Convention provides a framework for recognition and enforcement of foreign arbitral awards. It does not make every award automatically executable. Scope, state reservations and refusal grounds still need to be considered. Issues concerning the arbitration agreement or the opportunity to present a case may be relevant.
Prepare an organised file
Gather the complete award, arbitration agreement, contract annexes and party-identification documents. Check the required form, authentication and translations under the applicable framework. Keep service records and information about any setting-aside or suspension proceedings.
A document inventory should distinguish an electronic copy from an available original or certified copy. Obtaining missing material from another country can take time; identifying that early makes the plan more realistic.
Identify the debtor precisely
Do not assume that a business operating under a similar name in Türkiye is the same legal entity that signed the contract. Compare registered names, registry details and party status. Lawfully obtained asset information can help decide where enforcement efforts should be considered and in what order.
Discuss cost and timing together
Consider translation, certification, filing and representation costs alongside realistic recovery prospects. If the debtor offers a settlement, examine the payment schedule and any security separately. A useful assessment identifies missing documents and potential objections rather than promising a fixed outcome or duration.
For an initial discussion, bring the full award and a short chronology separating the claim, amount awarded, payments already received and balance sought.
Sources and further reading
The examples are hypothetical. The governing law, banking documents and contract terms need to be assessed for the particular transaction.
Related reading: Drafting an arbitration clause
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