international arbitration institutions

International arbitration institutions are organizations that provide a framework for resolving disputes between parties from different countries outside of traditional court systems. They offer rules and procedures for arbitration, a process where an impartial third party, called an arbitrator, makes binding decisions on disputes. This method is often chosen for its efficiency and confidentiality. Common institutions include the International Chamber of Commerce (ICC), the International Centre for Dispute Resolution (ICDR), and the London Court of International Arbitration (LCIA). These entities help facilitate fair and impartial resolutions in a global context, promoting trade and investment.