Tuesday, July 24, 2018

AWARD AND TERMINATION OF PROCEEDINGS


AWARD AND TERMINATION OF PROCEEDINGS
(1) The arbitral tribunal shall decide the dispute in accordance with such rules of law as are chosen by the parties as applicable to the substance of the dispute. Any designation of the law or legal system of a given state shall be construed, unless otherwise expressed, as directly referring to the substantive law of that State and not to its conflict of laws rules.
(2) Failing any designation by the parties under paragraph 1 of this article, the arbitral tribunal shall apply the law that it considers to be most closely connected with the dispute.
(3) The arbitral tribunal shall decide ex aequo et bono or en qualité d’amiable compositeur only if the parties have expressly authorized it to do so.
(4) In all cases, the arbitral tribunal shall decide in accordance with the terms of the contract and shall take into account the applicable usages.
Decision making by panel of arbitrators Article 28
(1) Unless otherwise agreed by the parties, the arbitral tribunal shall make any decision by a majority of all its members.
(2) If a majority has not been achieved, arbitrators shall continue deliberations on each issue.. If after repeated voting the majority still cannot be achieved, the award shall be made by the presiding arbitrator.
(3) Outside joint sessions of the arbitral tribunal, questions of procedure may be decided by a presiding arbitrator, unless the parties or all members of the arbitral tribunal have not agreed otherwise.
(4) The panel of arbitrators may entrust to one of its members to undertake certain fact-finding activities.

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