• Utkarsh Srivastava
• Dr Rajeev Kumar Singh

ABSTRACT The selection by the parties of the place of arbitration in international commercial arbitration will have a fundamental impact on the determination of rights of the parties under the contracts. Equally fundamental is the parties’ selection of the law, both substantive and procedural, which will apply to the determination of those rights. Accordingly, the challenge with respect to the choice of law and choice of forum for international commercial arbitrations is to resolve the tension between these three sources of law: the statute/Model Law; the common law; and the parties’ agreement. These three sources will not always be consistent with one with the other, and may not obviously lead to the same conclusions. And even with respect to the arbitrations which are seated in a particular country, the varying dimensions of reconciling the threads of governing law, law of arbitration agreement and curial law has a significant effect in the way the rights and obligations of the parties are dealt with and justice rendered. Also within the seamless legal domestic and international code on the above three laws in an arbitration agreement, there exists varying jurisprudence and legal opinion which poses difficulty in anticipating the consequences of including a choice of law in the contract which may give rise to subsequent differences between the parties. The sphere of International Commercial Arbitration is shrouded with technicalities of law, jurisprudence, rules and codes not to forget the varying contradictions that the presence of different jurisdictions and their set of laws pose. Thus, in the contemporary scheme of things, it is essential to crystallize the basic principles while dealing with choice of law clauses in the contract with the sole of purpose of avoiding unforeseen consequences later. The understanding of principles of party autonomy, conflict of laws and public policy and contractual implications is essential for the parties to have informed consent while including a choice of law clause in the contract.

international arbitration

"Fixing the Error in the Choice of Law Clause in the International Commercial Arbitration", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 5, page no.f882-f885, May-2024, Available :http://www.jetir.org/papers/JETIR2405598.pdf

"Fixing the Error in the Choice of Law Clause in the International Commercial Arbitration", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 5, page no. ppf882-f885, May-2024, Available at : http://www.jetir.org/papers/JETIR2405598.pdf