I. INTRODUCTION

International arbitration is traditionally hailed as affording the most substantial benefit of producing an award that, in the overwhelming majority of cases, is entitled to recognition and enforcement in the more than 120 countries that have ratified the New York Convention of 1958.1 This regime of almost universal recognition and enforcement compares most favorably with that regulating the recognition and enforcement of judgments rendered by foreign courts. Those judgments are recognized and enforced only when domestic law or a relevant treaty so provides. The rule generally prevailing in civil law systems is that foreign judgments are not recognized or enforced at all or only on a basis of reciprocity, with frequent uncertainty as to what form of reciprocity is required.2 In common law countries, foreign judgments are generally recognized and enforced, but courts retain a significant measure of leeway.3