On 14 July 2006, the People's Republic of China ("PRC") and the Hong Kong Special Administrative Region ("HKSAR") signed an arrangement on reciprocal recognition and enforcement of each other's judgments in civil and commercial matters ("the Arrangement"). Under the arrangement, a party who has obtained a court judgment in civil and commercial matters in HKSAR may apply to a court in the PRC for recognition and enforcement of that judgment and vice-versa. There is currently no such mechanism in place and it is hoped that the arrangement will fill the void.