Answer ... The Arbitration Act includes no specific provisions in this respect. According to legal scholars, and as may be inferred from the case law of the Slovenian Supreme Court, unless the parties have agreed on the choice of law of the arbitration agreement, the law of the main contract will also apply to the arbitration agreement. If no such agreement exists, the law of the seat of the arbitration will apply.
Answer ... Yes, the tribunal shall decide the dispute in accordance with the substantive law agreed by the parties. Failing any designation by the parties, the tribunal shall apply the substantive law which it considers appropriate.
The tribunal may also decide ex aequo et bono if the parties have expressly authorised it to do so. In all cases, the tribunal shall make its decision in accordance with the terms of the contract and the relevant trade customs.