12.1 Arbitration, Judicial Settlement, Negotiation, Good Offices,

Mediation, Conciliation or Inquiry The methods' spectrum (the Article 33 UN Charter list applied to the trade world — LAW 303's foundation): Method The third party's role The outcome's character Negotiation none — the parties themselves the agreement the parties reach Good offices the third party brings the parties together (the channel) the parties' own settlement Mediation the third party proposes-and-advances solutions the parties' settlement (the mediator's draft) Conciliation the third party investigates-and- REPORTS a proposed settlement non-binding recommendation Inquiry the third party finds the FACTS the factual finding (the dispute's narrowing) Arbitration the arbitrator(s) adjudicate on the parties' agreement BINDING award (the challenge limited) Judicial settlement the standing court adjudicates binding judgment (the ICJ-and-others' world; domestically the courts) The trade world's preference: the commercial disputes' arbitration-first culture (the neutrality, the expertise, the confidentiality, the enforceability — the New York Convention's passport, Unit 13); the state-state trade disputes' diplomatic-then-adjudicative ladder (the WTO's DSU — Unit 9); the investor-state's special regime (ICSID — below).