ABSTRACT
Introduction Since the Second World War, arbitration has proved an extremely popular method of resolving disputes. Arbitration, arguably, could be said to be the fi rst step toward privatisation of justice, in that it is an alternative to resolution through national (state) courts. As such, parties opting for arbitration have greater control over matters, such as the appointment of arbitrators, the language of the arbitration, and the place of arbitration. Equally, the principles to be applied to issues under consideration need not be tied to a national law, such as English law or French law. The issue could be decided on equitable principles ( ex aequo et bono ) or law merchant ( lex mercatoria ). 1 The characteristics of arbitration, including those that contribute to its continued popularity, are highlighted within this chapter. While listing the characteristics, some of the issues that have generated some discussion are also considered.
