It remains traditional to refer to arbitration, together with mediation, as a form of alternative dispute resolution. This has, for some time, been a misnomer where international contracts are concerned. Although statistics are not available, for obvious reasons of commercial confidentiality, it has been the case for some time that arbitration has been the typical form of dispute resolution mechanism for international contracts; our experience as practitioners is that the trend toward greater use of arbitration is continuing.
This article will give an overview of the main arbitral institutions, followed by a brief examination of the principal benefits offered by arbitration as opposed to litigation, and the main strategic considerations with regard to potential arbitration proceedings.
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