C/L/178. Arbitration and Mediation the New Approach to Resolving Trade Disputes: Examination on how Traditional International Treaty and Jurisdictional Approaches are Ineffective as per the WTO Arbitration Panel

The paper examines how states are bound by contractual obligations in the private international arena looking at the problems of transcending borders, jurisdiction and the controversial approach of regime shopping. Definitions of the salient concepts are provided including jurisdiction, arbitration, regime shopping, etc. The causes of clashes between companies are identified; the functions of LCIA (London Court of International Arbitration), ICC (International Commercial Court), ICSID (International Centre for the Settlement of Investment Disputes), etc. are described; approach to trade dispute arbitration are discussed.