The Regulatory Framework Applicable in International Arbitration and the Interplay Between its Components

This paper is a broad analysis of the norms applicable in international arbitration. Its purpose is to outline the way these norms interact, by reference to the characteristics of arbitration as an alternative dispute resolution method, mainly pertaining to party autonomy, but also considering elements outside of the parties’ control. The research method employed is the comparative one. Nevertheless ― since a detailed analysis of such aspects would exceed the limits of this exercise ― no direct comparison will be made neither between commercial arbitration and investment arbitration, nor between institutional arbitration and ad-hoc arbitration, while the differences between the aspects pertaining to procedure and those applicable on the merits of the disputes will not be insisted upon. Rather, the focus will be on the overlapping issues. The results will highlight the advantages of corelating the applicable law with the arbitral rules as well as with other relevant norms, such as mandatory norms (e.g., public policy - whether national, supranational, or transnational/international) on the one hand, and soft law instruments on the other hand.