Similarities

Differences

Compulsory settlement process.

Number of Judges and Arbitrators are different.

Contained in same section of same part of LOS Convention.

Members of the Arbitral tribunal are appointed by the parties but judges have already been appointed in Courts or Tribunals.

Acceptance of jurisdiction in both of the processes depends on the wishes of the parties.

The parties have to spend extra expenditure for arbitrators but in judicial process United Nations bears all the expenditures.

Third party is always involved in both of the processes.

The decision of Arbitration may be advisory or binding but the decisions of the Court are always binding.

More successful than other mechanism of maritime boundary dispute settlement.

The proceeding of Arbitration is run by the agreement between the parties. On the other hand, proceeding of the court is controlled by the well established rules of the court or tribunal.

Arbitrators and Judges usually use the principles of international law as the basis for their decisions.

Judicial settlement consumes more times than Arbitration.

The legality of Arbitration and Judicial Settlement generates international reputation costs.

Arbitration is a confidential and more flexible process but judicial settlement is a public and rigid process.