The Law Governing Determination of the Contract Currency in International Commercial Arbitration

Determining the currency of contracts is one of the most important issues in international trade agreements which can be a guarantee for the enforcement of obligations between the parties. The determination of currency in international relations is affected by several relations, such as legal, political, economic and etc., so having sufficient knowledge in each of these areas is essential to determine the currency of the contract. In this research, an attempt has been made to examine the legal aspects in order to determine the law governing the contract currency more than other aspects and In the meantime, the question that may arise is that in case of non-determination of the currency of the contract, what will be the criterion for determining the law governing determination of the currency in litigation in international commercial arbitration, including the issue of compensation? Therefore, in this study, an attempt has been made to examine the various dimensions of determining the currency, the conditions for not determining it, the current arbitration awards and related issues and finally, a solution has been proposed.