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What is the difference between domestic and international awards?
Wiki User
∙ 11y ago
difference between national and international awards
Wiki User
∙ 11y ago
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If international law lacks the enforcement mechanism of domestic law why is it generally obeyed?
Much of international law is enforced through international tribunals such as the ICJ, ICTR, ICTY and the WTO, as well as through arbitration procedures in bilateral and multilateral treaties. International arbitration awards are enforceable, for signatories to the "New York Convention" and similar agreements, in the domestic courts of the country where the liable party holds assets. In countries like those of the European Union, obedience to international law by domestic courts may be enforceable by law. Where countries are signatories to international treaties without codified enforcement procedures, diplomatic pressures often play a dominant role in enforcement. Developing countries looking for foreign investment have an added incentive to abide by their international commitments, as they look to present themselves as stable jurisdictions for international trade.
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importance of international award is the honour is to be prouded .
