AN ANALYSIS OF THE CONCEPT OF NEGOTIATION AND ARBITRATION AS METHODS OF ALTERNATIVE DISPUTE RESOLUTION IN INTERNATIONAL LAW
Dispute or disagreements are unarguably and necessarily an inevitable part of human existence, flowing directly from communication, inter reaction and relationships. This can occur at individual, and commercial level, but even at international level in view of current trend of globalization, which pose some threat to international commercial transactions. Negotiation and arbitration are form of alternative dispute resolution in international law. They are the main focus of this thesis and will be death with in sufficient details in this work. Other forms will receive mention in passing. The former as an informal and unstructured bargaining process between parties in an effort to reach an agreement. The concept of negotiation is as old as mankind itself the latter also involve an in formal process unlike litigation. This study is Justified in that it attempts a fairly comprehensive analysis of the most popular forms of alternative dispute resolution in international law, including its pros and cons vis-à-vis the reason for its preference to litigation, including recommendation for improvement as a means to boosting international commerce, harmonious co-existence and international understanding both in trans-border transaction and ultimately a peaceful world.