Substantive Law vs. Curial Law : In International Commercial Arbitration

Law of arbitration as it has developed globally, recognizes that there is a difference between the law of contract and the law governing the conduct of the Arbitral Tribunal. Parties are empowered to nominate which national laws will govern either or both these divisions. In international commercial arbitration, it has become a practice that parties agree upon a substantive law and on curial law. Parties are free to choose substantive law applicable to the contract, curial law applicable to arbitration proceedings and the judicial seat of arbitration. Such choice can be express or by implication Substantive law is the law governing the contract while the curial law is the law governing the arbitration proceedings between the parties to the dispute.