International commercial arbitration is the resolution of commercial disputes between corporations and between corporations and states through private mechanisms and according, mostly, to informal non-legal customs and rules.
It is one of the oldest forms of dispute resolution. It is also one of many forms of dispute resolution - where parties decide to sort out their disputes outside of the judicial system. Parties have a good deal of autonomy, so can choose how their arbitration happens: selecting the arbitrators (those who make the decisions), choosing whether to involve an international arbitral institution (and their rules) as well as the language and location of arbitration.
Studying arbitration will mean finding out about the nature of arbitration, alternatives, the agreement, tribunals, applicable laws, conduct, the global perspective and awards and compensation.