Arbitration as a means of dispute resolution in the international commercial arena is well known to the corporate legal community, yet it presents complexities that continue to be a special challenge to in-house counsel. The author points out the importance of delineating in advance-primarily via an arbitration clause in the business contract-the conditions under which arbitration will take place. Then he highlights the elements themselves that should be covered in the clause that will make arbitration acceptable to both parties without undue negotiation over every detail.
