Conclusion International Commercial Arbitration like every other dispute resolution mechanism has its merits and demerits. It is procedurally less formal and rigid than litigation in National Courts. It also has the merits of confidentiality to protect business interest. If judicial intervention is reduced to the minimum necessary for ensuring effective justice, it is also less expensive. We doubt whether it will cure corns or bring general beatitude.
Few panaceas work as well as advertised.
To those who have experienced it, litigation of complex international disputes in national courts is often distinctly unappealing. Despite the frustrating procedural complexities and other uncertainties, arbitration often offers the least ineffective way to finally settle the contentious disputes that inevitably arise when international transactions go awry. AIR 1985 SC 1156, at 1157. AIR 1997 SC 605.