Frequency/market practice: Yes, parties may choose the governing law. It is normally where the buyer selects.

Frequency/market practice: The common governing law is Mexico, if both seller and buyer are Mexican entities, and New York law, when the buyer is an entity formed in a jurisdiction other than Mexico or a wholly owned subsidiary of an entity formed in a jurisdiction other than Mexico.

Frequency/market practice: Arbitration is more common when the applicable law is not Mexican. Arbitration can take place in Mexico or outside Mexico.