International arbitration
When parties from different legal jurisdictions come into conflict over commercial relationships, or two nation states disagree over issues of sovereignty, they may decide that arbitration in a neutral context is the best method of resolution. Commonly, contracts will stipulate that the rules of a certain forum are to be followed and this provides greater certainty about the method and costs of dispute resolution and enforcement. Arbitration may also enable important trading relationships to continue. Among the main forums and rules are the International Chamber of Commerce (ICC), the London Court of International Arbitration (LCIA) and the United Nations' UNCITRAL. There are also specialist bodies such as the World Intellectual Property Organisation (WIPO) and the Court of Arbitration for Sport.
