Confidentiality. Both the procedure and outcome of an international arbitration are (or can be made by agreement of the parties) private and confidential. Court proceedings are usually public. Speed and costs Arbitral proceedings can be commenced, and the dispute resolved, faster than litigation if an appropriate procedure is used. In arbitration, in contrast to litigation, the parties have to pay the fees and expenses of the decision makers. However, arbitration is as costefficient as the parties allow it to be. By designing and managing the procedure effectively, cost can be managed. This allows and encourages the parties and the tribunal to focus on the key issues at an early stage, and can avoid the process taking precedence over the real issues in dispute, a common perception in litigation.