International Business

International business has always favored Private Dispute Resolution out- side domestic courts. This practice has increased dramatically over the past decades. Almost every dispute resolution process is preceded by more or less intense negotiations between the respective managers who are in charge of the project. Almost 90 per cent of major international commercial con- tracts contain an arbitration clause and international contract practice is making increasing use of mediation. Some commercial contracts contain highly sophisticated 'multi-tier' dispute resolution clauses which require the parties to reach a settlement of their disputes by going through consecutive steps of different Private Dispute Resolution processes. As a consequence of these developments, every major international law firm has a dispute resolu- tion group. Legal departments of major companies are likewise discovering the benefits and cost-saving effects of pro-active dispute management, espe- cially in light of the high potential for Private Dispute Resolution to preserve valuable business relationships.