The expansion of international trade, particularly in recent decades, has spawned a large number and type of international disputes. Resolving those disputes without agreed procedures for doing so, can prove to be time-consuming, frustrating and even pointless. Arbitration, a form of alternative dispute resolution (ADR), is a legal technique for the resolution of disputes outside the courts, wherein the parties to a dispute refer it to one or more persons (the "arbitrators", "arbiters" or "arbitral tribunal"); by whose decision (the "award") they agree to be bound. It is a settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides.
Although arbitration was traditionally perceived as serving the interests of industrialized countries, since the 1970s there has been a surge in the participation in arbitration by developing countries and emerging economies. Reliance on arbitration as an international and alternative dispute resolution mechanism has only increased over the last five years.
This course aims to expose participants to the various methods available for the effective and efficient resolution of international commercial disputes other than Courts, such as arbitration, mediation, and conciliation. It will also provide an overview of the leading national and international arbitration institutions engaged in providing the services and fora for the resolution of such disputes. Finally, it is hoped that this course will provide participants with a deep insight regarding the latest legal developments on important issues involving arbitration and its intersection with domestic courts.