Abstract
The authority and jurisdiction of arbitrators are in every instance dependant upon two factors: the autonomy of the parties and the laws of the competent national jurisdictions. Arbitration, as an alternative forum to national courts for the determination of disputes arising out of international commercial and other relationships, can only take place if agreed to by the disputants, either in advance, ie, in an arbitration agreement (normally an arbitration clause in a contract), or by way of a submission to arbitration of a specified existing dispute. It is because arbitration will generally be resorted to only if the parties have so agreed, that it is most accurately described as a private dispute settlement mechanism.1
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