Principle of Respecting the Agreements of the Parties – “Lex Voluntatis” in International Commercial Contract Disputes

Principle of Respecting the Agreements of the Parties – “Lex Voluntatis”

The parties to the contract have the freedom to choose the applicable law in contract disputes. In case a dispute arises, the dispute resolution body must respect this decision of the parties. The dispute resolution body can only request the parties to use other sources of law in cases where the law chosen by the parties cannot or is not sufficient to resolve the arising dispute.

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