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[3] “Under Art. V(1)(a) of the New York Convention for the Recognition and Enforcement of Foreign Arbitral Awards of 1958 (the New York Convention), the agreement to arbitrate is examined either by reference to the law stipulated by the parties or, failing such a stipulation, to the law of the place of arbitration. Given the generally recognized principle of the autonomy of the arbitration clause on the one hand, and the fact that the law applicable to the arbitration clause is rarely the subject of a specific stipulation, on the other, most national courts' decisions under the New York Convention have applied the law of the country where the award was rendered. (3) It is worth noting that the Italian Supreme Court has declared that Art. II of the New York Convention constitutes a lex specialis rendering inapplicable the general Italian rules of form concerning arbitration agreements. (4)
[4] “In the case at hand, the arbitration clause does not contain any reference to the law applicable to it. As a consequence thereof, the validity of the arbitration clause must be examined under the law of the seat of the arbitration, namely Swiss law.