Abstract

International arbitration has risen in popularity over the last 50 years, yet many people still fail to recognize its significance as the principal way of settling complicated, multinational conflicts (as well as the economic benefits accruing to a country perceived as “arbitration friendly”). The authors, with the help of this article, want to showcase the international initiatives taken globally for the recognition of INTERNATIONAL INITIATIVES TOWARDS THE DEVELOPMENT OF ALTERNATIVE DISPUTE RESOLUTION (ARBITRATION), which help to resolve conflicts and sustain relationships among people. Increasing numbers and a greater degree of complexity have emerged from the growth and globalization of cross-border investment and commerce. After a relationship comes to an end (which is inevitable), it’s important for the parties involved to figure out what their best options are for resolving the disagreements that may arise. In the vast majority of cases, parties will settle their differences via arbitration.

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