All countries have in place mechanisms for the resolution of disputes. When a dispute arises between private parties, they will usually have access to the ordinary courts in either party’s country. Over the last several decades, arbitration has increasingly come to be seen and accepted as an appropriate preferred process for the resolution of international commercial disputes, including disputes with governmental authorities and the State itself. An increasingly large number of international arbitration institutions, such as the International Chamber of Commerce (ICC), the London Court of International Arbitration (LCIA) and the International Centre for Settlement of Investment Disputes (ICSID), are also administering today an expanding caseload of international arbitrations.