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.
It often happens that the plans for a project are modified after a decision on environmental conditions is issued but before issuance of a permit for the project itself (e.g. the building permit). Is it necessary to amend the environmental decision?
read furtherWhen a company has been issued an environmental permit, e.g. to release particles into the atmosphere, may it freely assign its rights under the permit?
read furtherInterest in arbitration is growing, due to its effectiveness, professionalism, confidentiality and speed—particularly important benefits for businesses. But the parties do not always take full advantage of the possibilities.
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