Particularities in Determining the Applicable Law in the International Trade Contract before the Arbitral Tribunal

The issue of determining the applicable law in the international trade contract before the arbitral tribunal is significantly different from its determination in the court of law. The explanation of this differentiation lies in the basis of the authority of the arbitral tribunals and of the courts of law. In the present study we have aimed to explain the different position of the arbitral tribunals as opposed to that of the courts of law on the analyzed topic and to identify the conflict of law regulations applicable in the field, as well as their source.