An increasingly well-developed system of international arbitration is now resolving many international disputes which might once have been addressed by the use of force, or never resolved at all. Treaty-based arbitration of foreign investment disputes, with claims ranging from millions to billions of dollars, has expanded dramatically, with dozens of investor-state arbitrations brought by the end of the 20th century, and hundreds today. Important international disputes over territorial claims and maritime boundaries also are being submitted by States to international tribunals. With much at stake, these kinds of international arbitration are increasingly being relied upon to settle disputes in a final and binding way. This course provides an overview of the way these international tribunals are structured and operate, and of their role in the international system.