This volume collects the materials underlying the International Colloquium "Conciliation in the Globalized World of Today", held on 11 and 12 June 2015 in Vienna under the auspices of the Court of Conciliation and Arbitration within the OSCE. The aim of the Colloquium was to examine the merits and possible shortcomings of this method of conflict resolution, and it concluded that the pros heavily outweigh the cons. This volume therefore draws the attention of everyone dealing with conflict management to those advantages. It does not end by providing a summary of conclusions to be drawn from the examination of the rules governing the OSCE Court and the practice of the other institutions considered. The reader will have to find out her/himself what experiences have been made in other fields where conciliation has been institutionalized as a dispute-settlement procedure. In this regard, the present book constitutes a treasury of lessons that cannot easily be brought down to a common denominator.