Answer ... The law of the arbitration agreement is determined in the same manner as that of an ordinary contract. The first step is to ascertain whether the parties have made an express choice of law to be applied to the arbitration agreement. Where such a choice has been made, that law prevails. Where there is no express choice of law, it becomes necessary to consider whether any choice can be implied from the circumstances. Where no law is implicit, the agreement will be governed by the law with which the agreement has the closest and most real connection.
Answer ... Both the Arbitration and Conciliation Act (ACA) and the Lagos Arbitration Law, in their respective rules of procedure (Articles 33 and 34 respectively), require the tribunal to apply the law designated by the parties as applicable to the substance of the dispute. The Lagos State rules go further to direct that, in the absence of any such designation, the tribunal is to apply the law that it determines to be appropriate. Under the ACA, it is submitted that the position is similar, in that the tribunal should apply the law with which the agreement has the closest and most real connection.