International Commercial Arbitration
Features of International Commercial Arbitration
- The Arbitral tribunal shall decide the dispute in accordance with the rules of law designated by the parties as applicable to the substance of the dispute.
- Any designation by the parties of law or legal system of a given country shall be construed, unless otherwise expressed as directly referring to the substantive law of that country and not to its conflict of laws and rules;
- Failing any designation of law under clause (a) by the parties, the arbitral tribunal shall apply the rules of law that it considers to be appropriate given all the circumstances surrounding the dispute.