The Problem of Applying Modern Approaches to Determining the Applicable Law to an Arbitration Agreemen

This article is devoted to the issue of choosing the most acceptable way to determine the applicable law to an arbitration agreement. The article seems relevant, since the author analyzed the main positive and negative aspects of the existing approaches to the choice of the applicable law to an arbitration agreement in practice, and also presented a proposal to apply a new approach to its definition, which will smooth out problematic aspects and ensure a balance between the choice of the competent legal order for the arbitration agreement by the arbitration panel and the autonomy of the will of the parties. The article will be useful both for practitioners, since it contains an analysis of the latest relevant developments in terms of regulating this issue at the international and national levels, as well as testing in judicial and arbitration practices, and for the scientific community, since it broadcasts the author’s assessment of the current situation taking into account modern challenges and development trends.