Arbitration Ex Aequo et Bono and Its Limits

3.1       PUBLIC POLICY

Public policy in international arbitration is a prolific and complex topic. In spite of the extensive bibliography, its definition and reach are far from being unanimous. It is not the purpose of this work to discuss in detail the different concepts of public policy. In principle, its characterization as a set of fundamental values of a society, its national and international levels and its function as “state filter” for the application of the law or recognition of foreign acts seem to be sufficient for the purposes of this work.

In that depiction, the effects of the public policy for international arbitration will have special importance within the perspective of the “delocalization” of the arbitration.