Seminar paper from the year 2013 in the subject Law - Civil / Private / Trade / Anti Trust Law / Business Law, grade: 1,3, University of Hamburg, course: Öffentliches Wirtschaftsrecht mit Schwerpunkt Europäisches und Internationales Wirtschaftsrecht, language: English, abstract: In the last three decades, international arbitration has experienced a remarkable growth and become an important and widely used instrument in the resolution of international disputes. This paper deals with the main advantages and disad-vantages of arbitration in the context of international contract law and is based primarily on two references: the textbook The Principles and Practice of Interna-tional Commercial Arbitration, by Margaret L. Moses (2008), and the homepage of The International Chamber of Commerce (2013).