The problem of the law in accordance with which the dispute that is the topic of arbitration will be determined has been stated in a manner that is comparable in both national and international legislation on international arbitration. The arbitration procedure is an alternative option to the national state court. Within the confines of the structure created by the legal order, almost every one of the well-established practices has been given priority status in order to accommodate the legal preferences of the parties. It is common knowledge that this changes depending on the nature of the case being litigated, and it is even possible that more than one option of law may be used, either expressly or implicitly. The fact that the parties personally authorize the arbitrators in the field of law represents an application of the concept of freedom of choice as well. The trend toward subjecting disputes arising from international commercial relations to international trade law is growing. International trade law evolves in line with the requirements of international trade and is comprised of rules and practices that are generally accepted in this field. This is in contrast to national law rules that regulate local relations. The resolution of disputes arising from international commercial relations is becoming increasingly dependent on international trade law. On the other side, this research may also be looked at from a sociological point of view if one so chooses. The legal preferences of the parties are molded based on cultural and social elements, and the continuously changing and growing dynamics of international commerce also have an effect on the social aspects of commercial partnerships. Both of these variables have an influence on the legal preferences of the parties. In light of this, it is essential, while engaging in arbitration proceedings, to take into account not only the legal aspect but also the social and cultural surroundings.