International business has always favoured Private Dispute Resolution outside municipal courts. This practice has increased dramatically over the past decade. Almost every dispute resolution process is preceded by more or less intense negotiations between the respective managers who are in charge of the project. Almost 90 percent of international commercial contracts contain arbitration clauses and international contract practice is making increasing use of the windows provided by ADR. Some commercial contracts contain highly sophisticated “multi-tier” dispute resolution clauses which require the parties to reach a settlement of their disputes by going through consecutive steps of different Private Dispute Resolution processes. As a consequence of these developments, every major international law firm has a dispute resolution group. Legal departments of major companies are likewise discovering the inherent benefits and cost effectiveness of proactive dispute management, especially in light of the high potentiality for private dispute resolution to preserve valuable business relationships. Working successfully in this field of international business and discovering these potentials requires the ability to make an informed choice between the various options available in the ever growing arsenal of private dispute resolution. However, although the privacy and confidentiality of these processes count among the major reasons why businessmen resort to them, it is precisely these reasons which make it hard for students and young practitioners to get a profound understanding of both the law and the practice of Private Dispute Resolution. This work provides the missing gaps, and seeks to provide an insight into the law and practice of the three archetypes of Private Dispute Resolution, ie Business Negotiation, Business Meditation and International Commercial Arbitration. It is expected that through this work, the reader will develop a better and deeper understanding of different mechanisms of Commercial Arbitration.