Arbitrators are subject to a slightly different check on their discretion: the parties’ agreement. In particular, arbitrators are bound by two factors, namely the parties’
agreement about the extent of their discretion and the rules of law the parties have chosen to apply.45
Where parties bring controlling law and persuasive authority to a tribunal’s attention – bound as they are by the parties’ agreement as to the scope of their authority – arbitrators can and
should neutrally evaluate the case relevant law to render a fair and impartial decision.