Among the aims of the United Nations Decade of International Law is the promotion of the means and methods for the peaceful settlement of disputes between states. In the previous volume, The United Nations Decade of International Law, Reflections on International Dispute Settlement, the editors contributed to this aim by bringing together a variety of opinions by international legal experts on the topic, with an emphasis on the role of the International Court of Justice. This time, the editors turn their attention to international arbitration and the role of the Permanent Court of Arbitration. It also explores the prospects for pre-constituted, non-ad hoc arbitral institutions which may be considered in the general framework of peaceful settlement of disputes between states, as well as between states and other actors (commercial arbitration) in the present day international system, through the process of international adjudication. Like the previous volume, this book is a valuable contribution towards the promotion of the United Nations Decade of International Law.