Confidentiality is a pillar of international commercial arbitration, distinct from litigation and giving parties an in-private forum for dispute resolution. In this research, the significance of confidentiality in arbitration is examined, where it aims to protect sensitive information, maintain reputations, and facilitate open disclosures. Confidentiality is not absolute but is jeopardized by differences in jurisdiction, third-party involvement, and exceptions based on public interest. The research analyzes key case law, institutional regulations, and national arbitration acts to analyze the differences in the enforcement of confidentiality across different sets of laws. The paper further critically analyzes the confidentiality-transparency trade-off for investor-state arbitration and regulatory compliance proceedings. The research concludes that while confidentiality remains a cornerstone of arbitration, there needs to be a harmonized global response to fill its gaps and make it effective in cross-border disputes.