Impact (share) of non-selected sources in international business litigation with emphasis on investment contracts

One of the important issues to be taken into account in investment agreements is to define the applicable law or resourcesgoverning the agreement. Upon defining the applicable law, based on the mutual agreement or through applying conflict resolution rules, it is possible for the parties to define the place of reference, interpretation, analysis, and inference of various topics. In the international agreements, such mutual agreements are binding and shall be applied by the
investigating authorityin analyzing and eventually granting the reward as for the disputes raisedout of the agreement. However, in the international commercial agreements, in particular, the investment cases, the arbitration authorities are hardly inclined to have exclusive use of the law or the defined resources. Actually, they commonly have direct or indirect useof other resources (non-defined resources)in different ways. The main subject of this article is the limits of arbitration authorities in referring the cases, using non-defined resources and the impact rate of such resources on the outcome of the agreement.