This master of Thesis presents advantages and disadvantages of resolving international private disputes in arbitration. Arbitration is a modern method of dealing with disputes, it is one of the form of alternative dispute resolution. International arbitration provides the parties to a dispute with the opportunite to obtain a decision from a judge or judges of their own choice. Arbitration obviates a public hearing in open court by judge. Lithuania has made significant steps towards a free market economy in past decade. Therefore there was an intensive development in the area of international commercial contracts. Furthermore the growing number of commercial disputes arose and development on international commercial arbitration laws was in the great need. Nevertheles the practice of local courts and recources of doctrine are very poor, that‘s the main motive to investigate advantages and disatvantages of resolving disputes in arbitration in this thesis. Dispute resolving in arbitration has more advantages than disatvantages. It is an effective and convenient technique of resoving international privatel disputes. Arbitration offers advantages over litigation as a way of enabling disputes to be resolved relatively quickly and simply without the need to go to court. The thesis is made of four parts. The first part presents international arbitration and procedure of international disputes resolution in arbitration. The second part analizes differences between arbitration and... [to full text]