The practice in practice: things to know
A collection of stray thoughts, tips, and experiences related to international arbitration
International arbitration is very competitive as you are competing with people from all over the world - but it’s totally worth it.
Though it mixes civil and common law elements, international arbitration is often quite common law-based - a background in common law or an LLM from a common law country is helpful for many - but by no means a must.
At the end of the day, arbitration is a lot about effective case management and understanding procedure - substantive knowledge plays a large role, of course, but the substance (e.g., the laws at issue) often varies between disputes.
International arbitration is great for multi-linguists: notably (native) English, Spanish, Mandarin, and Russian speakers have an advantage.
Arbitration practitioners are on average (when compared to other practice areas) very diverse and international.
Being aware of recent or ongoing events is crucial. In 2020, there were several notable cases (see Enka v Chubb; Haliburton v Chubb) that went straight to the basics of arbitration. In 2021, several cases went to the heart of arbitration in the EU (see Komstroy; PL Holdings). You need to be aware of these (especially if you’re a European lawyer). It’s also crucial to be aware of ongoing cases which are majorly important for a variety of reasons, such as the Achmea case (and now Komstroy, etc.) and the Yukos proceedings.
Arbitration is more academic than some other areas of law (and before we receive too much flack - less academic than some others) and is continuously developing. This really does make it highly interesting: there is always a new topic to write an article about, something less true for other practice areas, which, despite being hugely complex, are more static.
It’s a small community, where many people know each other. In other practice areas, your network is slightly more limited by your jurisdiction. International arbitration largely removes these barriers. Again, this goes back to item 1 on this list.
This applies across all areas of legal practice, and is in any case a little cliche, but it is genuinely about the journey: the people you meet and the things you learn along the way. Disappointment and failure are sometimes inevitable, even at a more senior level. The best thing you can start doing early is trying to develop a thick skin: move on, stay positive, and see the humour in things. Learn from your mistakes. And remember, we’re all human!