Arbitration is a potentially attractive method of dispute resolution. In any contract there will be a clause dealing with the governing law of the contract and with the court or arbitration rules to which any dispute must be submitted.

The perceived advantages of arbitration as opposed to litigation through the courts are generally regarded to be that the proceedings are private and that parties can choose and agree on the following:

• governing law and jurisdiction - the ability to specify which law will govern the contract and the arbitration proceedings, and, the place in which the arbitration proceedings will take place

• who will be the arbitrator or arbitrators

• the length of time the arbitration process will take.