It has been said over the last 20 years or so by many—including this column—that the use of international arbitration as a means of dispute resolution has been growing. It is by now clear that it is a major component of the business of an increasing number of law firms, with many would-be participants vying for the available business, which though growing, remains small in relation to the volume of lawsuits in the United States and elsewhere in the world. This competition among law firms and would-be arbitrators for involvement in international arbitration cases, which can be relentless, has extended to places where arbitrations can be held—including the City of New York. This column discusses the ways in which New York is competing with others for international arbitration business.

Even though much of what transpires under international arbitration can be done from afar, through e-mail and teleconferencing, the “seat” of the arbitration and the location where hearings take place are of importance to participants in such cases. Thus, even if an arbitration involving, say, $10 million may involve no more than one or two times in which counsel and the arbitrators meet in person, locale may matter. The place where the arbitration is “seated” usually provides the procedural law covering the conduct of the case, meaning that forays into court before and after the proceeding will usually involve the courts of the arbitration seat. So, when parties to a contract negotiate how disputes between them will be resolved, they may well consider, in addition to the convenience of the place where the proceedings will be held, the local law of that place.

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