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FAQ

What type of law is applied by an arbitral tribunal?

The tribunal decides the dispute in accordance with the law chosen by the parties to govern the substance of the legal relationship between them, or if the parties did not make a choice of law, according to the law as determined using conflict of laws principles. The tribunal may decide according to general rules of law or equity and fairness if expressly authorised by the parties. In all cases the tribunal shall decide in accordance with the terms of the contract and shall take into account the usages of the trade applicable to the transaction.

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