Drafting an effective international arbitration clause

International arbitration is a part of a coherent globalised system for resolving commercial disputes where parties have the ability to effectively and efficiently enforce the resulting arbitration awards virtually throughout the world. Nonetheless, international arbitration is at its core a consensual process which is founded in contract. The increasing Australian involvement in international trade means that it is inevitable that practitioners are likely to become involved in transactions which require an international arbitration clause. The aim of this article is to identify and consider the legal issues which are involved in drafting an effective international arbitration clause in an international transaction.