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The process of arbitration is a form of gentlemanly agreement between countries and international entities to resolve certain disputes and it has certain advantages over other mechanisms. Implementation of the arbitration decision is a matter of prestige and honor for parties in dispute, not a matter of coercion or utilization of mechanisms for implementation of decision. This paper describes arbitration as a way of peaceful settlement of international disputes. The emphasis is on the arbitration procedure in Bosnia and Herzegovina, the establishment of an arbitration tribunal, the conduct of the proceedings and the decision of the arbitration tribunal.

Arbitration as means of resolving disputes in the case of Bosnia and Herzegovina