Points of law: 1) whether an arbitration clause contained in a contract may be still valid after the expiry of the term of such contract, provided that the parties to it have made it clear by their behavior that they regard the contract as being in force in spite of the expiry of its term; 2) whether it is open for an arbitration court to determine the applicable law, or the court must in all cases apply the law which is referred to in the arbitration clause.

Ratio decidendi: the Presidium held that 1) the arbitration clause may be extended to cover the subsequent relations between the parties; 2) the arbitration court may independently determine the applicable law.