Does local law allow for a choice of governing law?
Frequency/market practice: Brazilian law only allows for a choice of governing law where arbitration is the conflict resolution option in the contract. If litigation is chosen, it is not possible to choose governing law. Under Brazilian law, the jurisdiction where the contract was entered into will determine the governing law. When it is not possible to determine the place of the contract, Brazilian law presumes that the contract was perfected in the place of business of the party who makes the binding offer; the proponent of the deal.