The Principles And Practice Of International Co... May 2026

Practitioners and companies prefer ICA over national litigation for several strategic reasons:

An arbitral tribunal has the legal authority to rule on its own jurisdiction. If a party claims the arbitrators have no power to hear the case, the arbitrators themselves—not a court—usually decide that question first. The Principles and Practice of International Co...

The practice of International Commercial Arbitration is a delicate balance between contract law and international treaty. It provides the "legal glue" that allows global trade to function, offering a predictable and enforceable way to manage risk in an unpredictable world. It provides the "legal glue" that allows global

The arbitration clause is legally distinct from the main contract. Even if the underlying contract is found to be void or terminated, the agreement to arbitrate remains valid so the dispute can still be resolved. Parties can appoint arbitrators with specific technical or

Parties can appoint arbitrators with specific technical or industry knowledge (e.g., oil and gas, maritime law, or intellectual property).

After a merits hearing involving cross-examination, the tribunal issues a "Final Award." This award is final and binding, with very limited grounds for appeal (usually only for procedural unfairness, not for a "wrong" decision). 3. Why Businesses Choose Arbitration

It avoids the "home-court advantage." A French company and a Japanese company might agree to arbitrate in Switzerland to ensure a level playing field.