Applicable substantive law / lex contractus / choice of law determined by reference to a standard form, yes / choice confirmed by the objective locus of the contract

'Therefore, according to a solution widely admitted by national conflict of laws systems and regarded as a general principle of international trade law, when a contractual clause indicates the applicable law, either directly or by reference to a standard contract, the law chosen in this manner must be applied. In the present case, the Tribunal sees no reason why this reference to a standard contract should be interpreted in a limited fashion (...), in such a way as to exclude paragraph 46, nor why should this general principle be disregarded.

Furthermore, the applicability of Algerian Law is confirmed here by the objective situs of the contract, which in itself would be sufficient to establish it: based on an express clause as well as on this localisation, the application of Algerian Law could not be overrided by purely subjective evidence allegedly revealing a common accord between the parties as to their intention of referring to English law, as stated by X.

In the absence of an express clause designating the applicable law or the clearly defined intentions of the parties, this law must in effect be determined by the objective situs of the contract.

The two major indications of this situs are the place of conclusion and the place of execution of the contract. In this case there exists no unique place of conclusion (...). On the other hand, the place of execution of the seller's principle obligation is unique and clearly defined: it is ..., in the Algeria, where the oil was to be delivered "free on board". (...)

In perspective, the evidence argued by X could never supercede this objective situs, and this would confirm, if need be, the express designation of the applicable law, and could even ward off claims of its alleged absence.'