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This book provides the reader with immediate access to understanding the world of international arbitration. Arbitration has become the dispute resolution method of choice in international transactions. This book explains how and why arbitration works. It provides the legal and regulatory framework for international arbitration, as well as practical strategies to follow and pitfalls to avoid. It is short and readable, but comprehensive in its coverage of the basic requirements, including the most recent changes in arbitration laws, rules and guidelines. The second edition includes updates on rules and guidelines, such as the arbitration rules of the ICC, the SCC, the ACICA and UNCITRAL, as well as the 2010 IBA Rules on Taking of Evidence in International Arbitration. The author includes insights from numerous international arbitrators and counsel, who tell firsthand about their own experiences of arbitration and their views of best practices.