On 2nd July 2019, the delegates of the 22nd Diplomatic Session of the Hague Conference on Private International Law (the HCCH) adopted the 2019 Convention on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters.
The 2019 HCCH Judgments Convention will be a single global framework, enabling the free circulation of judgments in civil or commercial matters across borders.
The new Convention is said to enhance the legal certainty and predictability that is so important in international legal matters especially in international trade and will be essential to reducing transactional and litigation costs in cross-border dealings, as well as promoting effective access to justice for all. It also facilitates rule-based multilateral trade and investment.
The Convention will increase certainty and predictability, promote the better management of transaction and litigation risks, and shorten timeframes for the recognition and enforcement of a judgement in other jurisdictions, providing better, more effective, and cheaper justice for individuals and businesses alike.
The Secretary General of the HCCH stressed that in adopting this Convention “an important gap in the landscape of private international law has finally been filled by the HCCH.”
Uruguay was the first signatory to the 2019 Convention. However, it is expected that the 2019 Convention will be worldwide ratified, thus described as the next “gamechanger” in international litigation.