24.
| (1) An 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 State shall be construed, unless otherwise expressed, as referring to the substantive law of that State and not to its conflict of laws rules. |
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| (2) Failing any designation by the parties to any arbitrators agreement, the arbitral tribunal shall apply the law determined by the conflict of laws rules which it considers applicable. |
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| (3) The provisions of subsections (1) and (2) shall apply only to the extent agreed to by the parties. |
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| (4) The arbitral tribunal shall decide according to considerations of general justice and fairness or trade usages only if the parties have expressly authorized it to do so. |
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Sri Lanka Consolidated Acts