Diane Okoko, MCIArb (UK)

June, 2017

New Frontiers in Arbitration and ADR–Opportunities for the Young Practitioner

Introduction: The concept of arbitration has evolved tremendously from a last resort mechanism for settlement of disputes to a more preferred means of dispute resolution. It can be said to be the singular most important mechanism for resolving commercial disputes from around the 1970s.

It exploded in recent years as an attractive alternative solution for the settlement of disputes especially within the business community and between States. It is, without comparison the most preferred dispute resolution option for trans-border commercial transactions due to the fact that its characteristic features make it attractive to corporations with its best assets being privacy and flexibility and global recognition of awards

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