A special arbitral court was set up in The Hague to cope with the many claims arising after the break in diplomatic relations between the US and Iran. There are many arbitration institutions other than ICC, some with regional specialization, some with subject-matter specialization. WIPO provides a special procedure that can be used if one party consider s certain material too sensitive to disclose to the other party. Although there is no practical experience yet, there is hope that WIPO arbitrations will be faster than other institutional arbitrations, which these days often last between 2 and 3 years. In recent years, the AAA reports an increasing interest in, and use of, mediation as a dispute resolution mechanism.
Mediation can be much faster, much cheaper, and more satisfying for the parties.
For more information on mediation, see Non-adversarial mediation and Using mediation to reduce the cost and complexity of arbitration . References Law and Practice of International Commercial Arbitration by Alan Redfern and Martin Hunter , Sweet and Maxwell, 1991.