Arbitration: A Very Short Introduction

Very Short Introductions: Brilliant, Sharp, InspiringArbitration is a legal dispute resolution mechanism, alternative to courts. It provides binding decisions, enforceable around the world. It is where parties take their disputes when they have agreed that courts, for one reason or another, do not suit them - which happens more often than one might think. Some of the most politically sensitive disputes on the largest scale go to arbitration. Countries which need to settle their boundaries in areas of the oceans rich in oil, gas and otherresources sometimes arbitrate, and much of the war in Sudan was eventually tied up with an arbitration. Investors who have staked billions of dollars in unstable developing countries rely on arbitration clauses to protect their investments. But also much smaller, everyday cases are routinely dealt with byarbitration - millions of consumers, whether they know it or not, enter into arbitration contracts when they conclude routine transactions. Even athlet