Interaction of Different Laws and Rules in International Commercial Arbitration
Law Comments by Rimantas Daujotas
9 Pages Posted: 18 Jun 2011
Date Written: April 2011
One of the main advantages of arbitration is that it can be a ground for dispute resolution which requires interaction of various different laws and rules. Parties can freely decide what laws or rules should govern their dispute settlement mechanism and what procedure to follow in the event of disagreement about their contractual obligations. In order to understand and take the most of international arbitration, main applicable laws and rules should be identified. However, there are also restrictions to party autonomy principle and the law of the seat of arbitration has a major influence to international arbitration procedure.
Keywords: International commercial arbitration, applicable law, different laws, rules, seat of arbitration, interaction, substantive law
JEL Classification: K33, K41
Suggested Citation: Suggested Citation