Introduction

The enforcement of foreign arbitral awards is key to the international legal system. Simply put, parties will not participate in a voluntary system if they cannot predict and rely upon the outcome. As a practical matter, this means that parties that agree to resolve their differences by international arbitration must have the confidence that any award that is properly issued by an arbitral tribunal will be paid or performed, either voluntarily or involuntarily, through the enforcement mechanisms that exist worldwide. Political risk insurers and insureds rely upon international ...