What are the advantages of arbitration?

-The neutrality of the forum and the ability to avoid the state courts of the other party. -An arbitral award is generally easier to enforce than a national court judgment because there is no international litigation counterpart to the extremely successful New York Arbitration Convention. -The New York Convention has a pro enforcement bias leading to the enforcement of the vast majority of awards. -Party autonomy and procedural flexibility -Confidentiality -Subject matter expertise -Arbitration is less expensive than litigation