28Rules applicable to substance of dispute

#### 28 Rules applicable to substance of dispute 28 Rules applicable to substance of dispute (cf Model Law Art 28) > > (1) The arbitral tribunal must decide the dispute in accordance with such rules of law as are chosen by the parties as applicable to the substance of the dispute. > > > (2) Any designation of the law or legal system of a given State or Territory must be construed, unless otherwise expressed, as directly referring to the substantive law of that State or Territory and not to its conflict of laws rules. > > > (3) Failing any designation by the parties, the arbitral tribunal must apply the law determined by the conflict of laws rules which it considers applicable. > > > (4) The arbitral tribunal must decide the dispute, if the parties so agree, in accordance with such other considerations as are agreed to by the parties. > > > (5) In all cases, the arbitral tribunal must decide in accordance with the terms of the contract and must take into account the usages of the trade applicable to the transaction. > > Note— > > This section (other than subsection (4)) is substantially the same as Art 28 of the Model Law.