Arbitration

Parties agree to submit disputes to a private arbitrator whose award they will accept, instead of going to state courts.

Arbitration offers expertise, confidentiality and a neutral forum for international disputes. It is a key building block of polycentric law.

• The 1958 New York Convention makes arbitral awards enforceable across most countries.
• Commercial, sports and investment disputes are routinely arbitrated.

Mandatory arbitration clauses in consumer and employment contracts can deny weaker parties a public hearing. Confidentiality limits the development of public law.

Arbitration is established practice — but its effectiveness depends on state courts enforcing awards.