- Applicable law — Arbitrators — Remedies and costs
This chapter studies Article 31 of the ICDR Rules, which is an amalgam of various rules addressing the issue of laws applicable to the arbitration and certain matters relating to the remedies available to the tribunal. Its touchstone is ‘party autonomy’—that is, respecting the choice of the parties, as expressed in the arbitration agreement or in positions taken before the tribunal. Absent party agreement, the arbitrators enjoy a broad discretion. Nevertheless, the parties’ freedom and the tribunal’s discretion may be restricted by mandatory rules of law at the place of arbitration or of enforcement. This limitation is also reflected in Article 1(2), which provides that any applicable mandatory law takes precedence over the powers recognized in Article 31.
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