Foreign states will no longer enjoy immunity from court proceedings or execution in relation to certain commercial transactions and assets.
Written waivers of immunity from suit and execution (including by contract and treaty) will be possible, regardless of whether the transaction or assets are commercial in nature (although careful drafting will be necessary).
There is now an express exception from immunity for various types of arbitration-related court proceedings against states in cases arising out of commercial activities, including proceedings to challenge and enforce arbitral awards.