SOURCES OF INTERNATIONAL COMMERCIAL ARBITRATION: CURRENT TRENDS AND DEVELOPMENT TENDENCIES

Abstract

Various modern approaches to the definition and classification of sources of international commercial arbitration have been studied. The legal nature of international commercial arbitration, which currently exists in the arbitration doctrine, has significant shortcomings and does not reflect today's realities regarding the consideration of foreign economic disputes. After all, the trust and advantages inherent in international commercial arbitration make it as attractive as possible for the parties to foreign economic activity (and not only). Such a tendency to "privatize" the consideration of disputes with a foreign element is not accidental due to the presence of unified international legal acts that are applied to international commercial arbitration.

Despite such advantages, the main issue in international commercial arbitration still remains the applicable sources of law. Since the key principle that distinguishes arbitration from national court proceedings is the "autonomy of the will" of the parties, accordingly, the parties determine under which legal norms and in which country they want their dispute to be heard. And in this case, the views of scientists who compare the expediency of applying lex fori or lex arbitri are quite ambiguous.

Based on the results of the conducted research, conclusions are made regarding the possible classification of sources of international commercial arbitration and a new approach is proposed to determine the nature of the source of arbitration, considering that arbitration itself cannot exist exclusively in a legal vacuum.