ABSTRACT
International dispute resolution is not a static phenomenon and there are no default models of out-of-court adjudication; rather, alternative dispute resolution mechanisms mutate according to trading practices and adjust to the transitional nature of international trade. They all share, nevertheless, the common feature of seeking to apply justice and, hence, they are – to a certain extent – resilient towards economic interests and market demands. It is, indeed, the employment of justice as a minimum standard of adjudication that has guaranteed their deference and has secured their legitimisation. Lex mercatoria is one such system demonstrating how commonsensical grounds should exist in order to resolve disputes that spur out of international trade.
