Forum selection is drafted years before anyone needs it, usually in ten minutes at the end of a negotiation. It deserves more attention than that.
Arbitration buys confidentiality, a decision-maker you help choose, and finality. It costs you appellate review, meaningful third-party discovery, and — despite the marketing — often costs more in fees than a court case of the same size.
North Carolina's Business Court buys you judges who read complex commercial disputes for a living, published opinions that build predictability, and a genuine appeal. It costs you privacy.
The right answer depends on which downside you can live with. Decide at drafting, with the specific relationship in view, and write the clause with enough precision that nobody litigates the litigation clause.