“When will mankind be convinced and agree to settle their diculties by
— BenjAmin FrAnklin
Arbitration can be a highly eective alternative commercial dispute
resolution process outside of court. Indeed, arbitration is and has
historically been a widely used method for resolving commercial
conicts arising out of domestic and international corporate and
commercial transactions. It has tremendous potential to resolve
disputes with condentiality, economy, eciency, nality, durabil-
ity, neutral expertise, impartiality, fairness, and more party-sensi-
tive and satisfactory outcomes than traditional litigation.
But for arbitration to fully realize its perceived benets, ex-
pectations, and promise as a means of eectively resolving com-
mercial disputes, many circumstances must combine:
informed and consenting parties that understand the ad-
vantages and disadvantages and the techniques and con-
cepts of arbitration
respect for and a healthy attitude toward ADR (the initial-
ism for alternative or appropriate dispute resolution) and
its goals, values, principles, and challenges
well drafted — that is, clear and robust — arbitration clauses
and agreements that (1) address what is and what is not
arbitrable and (2) contain fair and reasonable provisions,

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