Arbitration occurs when parties agree to submit their disputes to a private decision maker, rather than a court. Decision makers can be anyone specified by the parties but are usually lawyers, legal scholars, or judges acting outside their official capacity. Parties can specify any number of arbitrators but most commonly select either one arbitrator or a panel of 3 arbitrators. Arbitration can be ad hoc or through an established arbitration organization, such as the International Court of Arbitration.
Arbitration is a particularly popular way of resolving international disputes and the United Nations Commission on International Trade Law (UNCITRAL) works to facilitate and promote its use. International arbitration is typically governed by the following standards:
The best starting point for researching international arbitration issues is:
Guides to international arbitration have been created by the American Society of International Law, NYU's Globalex project, and the Hague's Peace Palace Library:
Additionally, many law schools have prepared guides to international arbitration: