The literature is rife with commentaries on the relative merits of international arbitration and trial litigation in national courts. Most begin with the same clichéd observation: after years on the rise, arbitration has now eclipsed litigation as the preferred mechanism for resolving cross-border commercial disputes. This claim is probably true. A 2013 survey reported that 52 percent of companies across industries prefer arbitration. It also found that companies refer disputes to arbitration and litigation in equal measure at 47 percent each. Published in Volume 34, Number 1 of The Advocates' Journal.