Application of Lex Mercatoria as Applicable Law in International Commercial Arbitration

In settling disputes regarding international commercial arbitration the parties may instead of choosing the law of one country to choose lex mercatoria or the law of merchants as a applicable law to the disputes. When this choice is possible that applicable choice of law rules recognize such power for the parties. The principle of autonomy is choosing lex mercatoria has been recognized in many national laws and arbitration tribunal regulations. Non-dependence on no state or sovereignty is the most important feature of this system that increase its desirability in the scene of international commercial arbitration. Thus, it should be seen what is the purpose of lex mercatoria as a spontaneous law whose rules drive from trade usages and what is its nature. Whether it is a full legal system and whether lex mjercatoria as a set of principles and legal rules that is not followed any state law has the potential to be applied as the applicable law to international commercial arbitration or not. article finding are to the effect that lex  mercatoria as a subsidiary Hybrid legal system is relied on in arbitration awards