International Contracts And Dispute Resolution

Dispute resolution clauses in international contracts are not a novel subject. However, with the global nature and increasing technical and legal complexity of international commercial projects, it is clear that in many instances parties to international contracts fail to select dispute resolution methods appropriate to their particular needs and objectives. Sometimes the dispute resolution clause is a rapidly added "afterthought" at the end of tough contract negotiations. In other instances, especially in complex projects, although detailed discussion has taken place on the dispute resolution clause, once the project is underway, the method(s) of dispute resolution chosen turn out to be ill-adapted to the practicalities of the project (e.g., in a construction contract the parties need to be able to obtain a fast decision that will allow them to progress the work). What, therefore, are the main points to be borne in mind when putting in place a dispute resolution clause?