Distinguish between the following: (v) 'Commodity agreement' and 'international commercial arbitration'.

'International Commodity Agreement' and 'International Commercial Arbitration' International Commodity Agreement is an agreement among producing and consuming countries to prove the functioning of the global market for a commodity, it may be administrative, providing information, or economic influencing world price, usually sing a buffer stock to stabilize it. Arbitration is the more prominent of the private dispute settlement mechanisms, both domestically and for international commercial relations. International Commercial Arbitration is a particular means of settling disputes, i.e. by "arbitration" that is "commercial" in nature and has some international element to it. In other words, an international commodity agreement is an undertaking by a group of countries to stabilize trade, supplies and prices of a commodity for the benefit of participating countries.