Published 8 March 2018
Arbitration developed as an alternative to the delays and risks inherent in submitting claims to state courts for adjudication. The term "international" implies that more than one country is involved. Anything that is international therefore requires interaction beyond national boundaries. Foreign parties' preference for arbitration is usually based on their discomfort when submitting their claims to the state courts in the countries where they operated, which they felt were inadequately equipped to deal with foreign parties, foreign law and foreign claims. Adherents of international arbitration promote it as a commercially viable and convenient means of international dispute resolution which is acceptable worldwide.
Keynote Address presented by Funke Adekoya SAN at the 3rd Annual Conference on Energy Arbitration and Dispute Resolution in the Middle East and Africa on 6th March 2018. Republished with kind permission.