ABSTRACT
International arbitration is one of the most widely used alternative dispute resolution procedures to resolve commercial disputes. It crucially depends on the parties’ agreement to resolve disputes through private adjudication by a single arbitrator, or a tribunal of more than one, appointed in accordance with rules of a specifi c arbitration institution that the parties themselves have agreed to adopt, usually by including an arbitration clause in their contract. The practice of international arbitration has been developed in a manner to resolve disputes with as little court interference as possible. The parties or their representatives, often legal counsels, present a dispute to an impartial arbitrator or a tribunal to resolve it and order a decision, known as ‘award’ in arbitration, which is legally binding and is generally non-appealable in a court of law. In arbitration, the parties at dispute have considerable input in the selection of the arbitration tribunal, and also in the choice of procedures they would like the tribunal to follow, including choice of the seat of arbitration, as well as the arbitration rules in terms of which the resolution is negotiated.
