International Legal Mechanisms

What are the legal mechanisms (except arbitration) available at present for countries to settle, multilateral commercial disputes apart from ICJ (International Court of Justice), when the parties are on a different platform than WTO (E.g. - TPP). In the context of TPP, whether companies suing governments is a new phenomenon?

ICJ: see, any dispute can be resolved by any court that has JURISDICTION!!

How do we know if a court has jurisdiction or not?

If any action or inaction leads to a dispute, then the place of that action or inaction (commission or omission) decides the court that has jurisdiction!! UNLESS, the parties have mentioned that some other court will have jurisdiction!

As these are civil matters, between 2 parties, they can decide how they can resolve the matter!! And countries can go before the ICJ, which is part of UN for agitating their rights!

So, the basic requirement is that: The parties must have agreed for dispute resolution body.

Apart from that, all the nations who are members of the UN can approach the ICJ.