الهيئة الدولية للتحكيم

الهيئة الدولية للتحكيم

In what order are choices made
about governing law, seat and
institution/rules and do the
choices influence one another?

For example, finance agreements are highly
likely to be subject to English or New York law,
as these are very well established laws and are
considered to deal efficiently with the issues
raised in finance agreements. If this is correct,
then the primacy of substantive law is a natural
corollary of the fact that the parties are more
interested in how the contractual relationship
will work between them rather than how any
potential disputes will be resolved. In other
words, the parties choose the substantive law
first, as this will apply throughout the
contractual relationship, and the seat or the
institution/rules second, as this choice will only
matter if a dispute arises at a later stage. It
seems that parties choose the governing law
for the contract to work and then seat/
institution in case the contract does not work.


الهيئة الدولية للتحكيم