The Swiss Arbitration Academy (SAA) is a private institution founded and managed by the editors of this book. Each year, the SAA conducts an intensive and practical training course in international arbitration. The training is designed for lawyers, in-house counsel, and other professionals interested in cutting edge, international, dispute resolution education. The SAA Series on International Arbitration contains the best papers of all participants who successfully completed the post-graduate studies in international arbitration of the SAA. Published on a yearly basis, the papers in this series cover different aspects of international arbitration.