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Question 11. Critically discuss the role and importance of international commercial arbitration as an alternative dispute settlement mechanism in international trade today. Introduction: In recent years, alternative dispute resolution, or ADR, has experienced an increasing popularity, no doubt as a result of dissatisfaction with the high costs and devastating effects of litigation. ADR includes such diverse procedures, such as non-binding mediation and the summary jury trial. But the most common form of ADR is arbitration. (WWW.BUSINESSWEEKONLINE.COM) Commercial arbitration has been going through an incredible growth over the past decades. (WWW.FINDLAW.COM) The development of international and domestic business operations in the last century relates to the increasing requirement of arbitration as a way of dispute settlement. Consequently, it has become a prominent feature of both domestic and international business transactions. As business globalizes, successful presentation or defense of international arbitration claims will become increasingly critical to company's litigation strategy. International arbitration is a good option...

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