Confirmation of Award.
SEC. 40. Confirmation of Award.—The confirmation of a domestic arbitral award shall be governed by Section 23 of R. A. No. 876.
A domestic arbitral award when confirmed shall be enforced in the same manner as final and executory decisions of the Regional Trial Court. The recognition and enforcement of an award in an international commercial arbitration shall be governed by Article 35 of the Model Law. The confirmation of a domestic award shall be made by the Regional Trial Court accordance with the Rules of Procedure to promulgated by the Supreme Court.
A CIAC Arbitral award need not be confirmed by the Regional Trial Court to be executory as provided under E.O. No. 1008.
Vacation Award.
SEC. 41. Vacation Award.—A party to a domestic arbitration may question the arbitral award with the appropriate Regional Trial Court in accordance with rules of procedure to be promulgated by the Supreme Court only on those grounds enumerated in Section 25 of Republic Act No. 876. Any other ground raised against a domestic arbitral award shall be disregarded by the Regional Trial Court.
B. FOREIGN ARBITRAL AWARDS
Application of the New York Convention.
SEC. 42. Application of the New York Convention.— The New York Convention shall govern the recognition and enforcement o arbitral awards covered by said Convention. The recognition and enforcement of sad arbitral awards shall be filed with the Regional Trial Court in accordance with the rules of procedure to be promulgated by the Supreme e Court. Said procedural rules shall provide that the party relying on the award or applying for its enforcement shall file with the court the original or authenticated copy of the award and the arbitration agreement. If the award or agreement is not made in any of the languages, the party shall supply a duly certified translation thereof into any of such languages.
The applicant shall establish that the country in which foreign arbitration award was made is a party to the New York Convention.
If the application for rejection or suspension of enforcement of an award has been made, the Regional Trial Court may, if considers it proper, vacate its decision and may also, on the application of the party claiming recognition or enforcement of the award, order the party to provide appropriate security.
Recognition and Enforcement of Foreign Arbitral Awards Not Covered by the New York Convention.
SEC. 43. Recognition and Enforcement of Foreign Arbitral Awards Not Covered by the New York Convention.—The recognition and enforcement of foreign arbitral awards not covered by the New York Convention shall be done in accordance with procedural rules to be promulgated by the Supreme Court. The Court may, on grounds of comity and reciprocity, recognize and enforce a non-convention award as a convention award.
Foreign Arbitral Award Not Foreign Judgment.
SEC. 44. Foreign Arbitral Award Not Foreign Judgment.—A foreign arbitral award when confirmed by a court of a foreign country, shall be recognized and enforced as a foreign arbitral award and not as a judgment of a foreign court. A foreign arbitral award, when confirmed by the Regional Trial Court, shall be enforced in the same manner as final and executory decisions of courts of law of the Philippines.
Rejection of a Foreign Arbitral Award.
SEC. 45. Rejection of a Foreign Arbitral Award.—A party to a foreign arbitration Proceeding may oppose an application for recognition and enforcement of the arbitral award in accordance with the procedural rules to be promulgated by the Supreme Court only on those grounds enumerated under Article V of the New York Convention. Any other ground raised shall be disregarded by the Regional Trial Court.
Appeal from Court Decisions on Arbitral Awards.
SEC. 46. Appeal from Court Decisions on Arbitral Awards.—A decision of the Regional Trial Court confirming, vacating, setting aside, modifying or correcting an arbitral award may be appealed to the Court of Appeals in accordance with the rules of procedure to be promulgated by the Supreme Court.
The losing party who appeals from the judgment of the court confirming an arbitral award shall be required by the appellate court to post a counterbond executed in favor of the prevailing party equal to the amount of the award in accordance with the rules to be promulgated by the Supreme Court.
Venue and Jurisdiction.
SEC. 47. Venue and Jurisdiction.— Proceedings for recognition and enforcement of an arbitration agreement or for vacation, setting aside, correction or modification of an arbitral award, and any application with a court for arbitration assistance and supervision shall be deemed as special proceedings and shall be filed with the Regional Trial Court (i) where arbitration proceedings are conducted; (ii) where the asset to be attached or levied upon, or the act to be enjoined is located, (iii) where any of the parties to the dispute resides or has his place of business; or (iv) in the National Judicial Capital Region, at the option of the applicant.
Notice of Proceeding to Parties.
SEC. 48. Notice of Proceeding to Parties.— In a special proceeding for recognition and enforcement of an arbitral award, the Court shall send notice to the parties at their address of record in the arbitration, or if any party cannot be served notice at such address, at such party's last known address. The notice shall be sent at least fifteen (15) days before the date set for the initial hearing of the application.
Source: Official Gazette of the Republic of the Philippines — Philippine laws are public documents (works of the government).
