Paper short abstract:

This paper aims to study the growing importance that new instruments of regulation - code of conducts, indicators, auditing and standardization- are gaining in the process of resolving international commercial disputes through international arbitration.

Paper long abstract:

International arbitration is a legal sector particularly favorable to innovation and to the removal of artificial barriers between different areas of law and between scientific disciplines. Since the award must meet the requirements of highly-demanding and specialized multinational companies, international arbitration is the optimal ¨testing ground¨ of innovative experiences, such as the taking into account of soft law and lex mercatoria, the ¨direct translation¨ of economic parameters into legal consequences, etc.. Within this framework, new instruments of regulation such as code of conducts, indicators, auditing and standardization also require detailed attention, as they are gaining weight in the arbitral response to disputes arising from the current global market. It is desirable that the tendency to create "frontier arbitral awards" -in the sense of awards at and beyond the frontiers of disciplinary boundaries and in the service of excellence results- comes to permeate the classic forms of law, since the complex current economic reality has dethroned the national state law as monopolistic solution to international problems.