1-567.58. Rules applicable to substance of dispute.
(a) The arbitral tribunal shall decide the dispute in accordance with such rules of law as are chosen by the parties as applicable to the substance of the dispute. Any designation of the law or legal system of a given country or political subdivision thereof shall be construed, unless otherwise expressed, as directly referring to the substantive law of that country or political subdivision and not to its conflict of laws rules.
(b) Failing any designation by the parties, the arbitral tribunal shall apply the law determined by the conflict of laws rules which it considers applicable.
(c) The arbitral tribunal shall decide ex aequo et bono (on the basis of fundamental fairness), or as amiable compositeur (as an "amicable compounder"), only if the parties have expressly authorized it to do so.
(d) In all cases, the arbitral tribunal shall decide in accordance with the terms of the contract and shall take into account the usages of the trade applicable to the transaction. (1991, c. 292, c. 761, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 45B - International Commercial Arbitration and Conciliation.
§ 1-567.30 - Preamble and short title.
§ 1-567.31 - Scope of application.
§ 1-567.32 - Definitions and rules of interpretation.
§ 1-567.33 - Receipt of written communications or submissions.
§ 1-567.34 - Waiver of right to object.
§ 1-567.35 - Extent of court intervention.
§ 1-567.36 - Venue and jurisdiction of courts.
§ 1-567.37 - Definition and form of arbitration agreement.
§ 1-567.38 - Arbitration agreement and substantive claim before court.
§ 1-567.39 - Interim relief and the enforcement of interim measures.
§ 1-567.40 - Number of arbitrators.
§ 1-567.41 - Appointment of arbitrators.
§ 1-567.43A - Disclosure by arbitrator.
§ 1-567.44 - Failure or impossibility to act.
§ 1-567.45 - Appointment of substitute arbitrator.
§ 1-567.46 - Competence of arbitral tribunal to rule on its jurisdiction.
§ 1-567.47 - Power of arbitral tribunal to order interim measures.
§ 1-567.48 - Equal treatment of parties; representation by attorney.
§ 1-567.49 - Determination of rules of procedure.
§ 1-567.50 - Place of arbitration.
§ 1-567.51 - Commencement of arbitral proceedings.
§ 1-567.53 - Statements of claim and defense.
§ 1-567.54 - Hearings and written proceedings.
§ 1-567.55 - Default of a party.
§ 1-567.56 - Expert appointed by arbitral tribunal.
§ 1-567.57 - Court assistance in obtaining discovery and taking evidence.
§ 1-567.58 - Rules applicable to substance of dispute.
§ 1-567.59 - Decision making by panel of arbitrators.
§ 1-567.61 - Form and contents of award.
§ 1-567.62 - Termination of proceedings.
§ 1-567.63 - Correction and interpretation of awards; additional awards.
§ 1-567.64 - Modifying or vacating of awards.
§ 1-567.65 - Confirmation and enforcement of awards.
§ 1-567.66 - Applications to court.
§ 1-567.68 - Recodified as § 1-567.33A by Session Laws 1997-368, s3.
§ 1-567.78 - Appointment of conciliators.
§ 1-567.80 - Report of conciliators.
§ 1-567.82 - Stay of arbitration; resort to other proceedings.
§ 1-567.83 - Termination of conciliation.
§ 1-567.84 - Enforceability of decree.
§ 1-567.86 - Effect on jurisdiction.
§ 1-567.87 - Immunity of conciliators and parties.
§ 1-567.88 - Uniformity of application and construction.
§ 1-567.89 - Relationship to federal Electronic Signatures in Global and National Commerce Act.