Arbitral Awards Revocation Of Institutional Research

The reason why international commercial arbitration became the most feasible dispute solution mechanism in the international business communication relies on a very important factor, i.e. arbitration award as a final conclusion, or the characteristic of "arbitration award shall be final and binding". However, in the arbitration legislation and practice of the countries, considering the supervision on arbitration and the protection of legal rights and interests of relevant parties, all the countries preserved a certain kind of mechanism of judicial supervision on arbitration by courts. By this mechanism, parties can demur at or challenge the principle of arbitration award as a final conclusion. Thus, there is a tense contradiction between arbitration award as a final conclusion and the judicial supervision by courts. How to deal with the relation between them and how to keep a reasonable homeostasis have long been a problem full of disputes.Annulment of award is an important measure of judicial supervision on arbitration. The U.N. Model Law on International Commercial Arbitration (1985) clearly defines the application for setting aside as "exclusive recourse against arbitral award". This provision represents and symbolizes the policy orientation of supporting arbitration in the international communities and accords with the tendency of the practice of modern international commercial arbitration. However, without stronger international convention especially aiming at the regulation of annulment of arbitration award, there are huge differences among the legislation and practice of various countries. Thus apparently goes against the further development of the international business arbitration. As annulment of arbitration award shall radically disable the arbitration award, and possesses a legal result toward the world. Therefore summarizing the different practice of various countries and clarifying the relevant problems theoretically have important practical meaning and theoretical value on preserving arbitration as a final conclusion and promoting healthy development of international commercial arbitration.This dissertation mainly includes 6 chapters.Chapterâ… starts on discussing the concepts and types of arbitration award, then defines relevant terms, clarifies the scope of research, and focuses on the characteristic of arbitration award as a final conclusion, making necessary expatiation for the development of the discussion. Chapterâ…¡cuts in the relationship between arbitration award as a final conclusion and judicial supervision on arbitration, briefly investigates the relevant legislation and practice in various countries, and describes the course and efforts of rationalization and unification of the protesting mechanism on arbitration award promoted by the international communities. Based on that discussion, it emphasizes on analyzing and expatiating of the provision of "Application for setting aside as exclusive recourse against arbitral award" stipulated in Model Law on International Commercial Arbitration.Chapterâ…¢and Chapterâ…£respectively analyzes the reason of annulment of arbitration reward from the points of the parties' quoting and the courts' cognizance. These two chapters, through comparative research of the legislation and practice of the countries, describe the necessity and justness of setting aside arbitration award strictly on procedural reasons, indicate that the judicial superintendence of annulment of arbitration award exerted by the courts shall be under the premise of holding the party autonomy in great esteem and supporting arbitration actively. Especially, the courts shall consciously restrain itself from those reasons of public policy that are ambiguous in connotation, and can easily be misused and abused, strictly restrict their application scope and keep the policy orientation of supporting arbitration.Chapterâ…¤briefly investigates and analyzes the legal result of annulment of arbitration award, emphasizes on analyses of the legal effectiveness of the former arbitration agreement after the annulment of the arbitration award. Based on that discussion, it analyzes the remarkable problem of implementing of annulled arbitration award, points out that there should be no simple denial on this kind of practice and there should be further investigation of the theoretical background and its rationality to a certain extent.Chapterâ…¥investigates China's arbitration legislation and practice, and, on comparing with and making reference to the mainstream standpoint and practice of annulment system of arbitration award of the international communities, analyses the shortcomings of China's current legislation and practice. It emphasizes on discussion and points out that, according to the change of domestic and international surrounding of China's arbitration development, China should clearly regulate important issues relating to the whole arbitration system such as place of arbitration, strictly regulate and restrict the application of the principle of "Social Public Interests", and should ameliorate some procedural regulation on litigation of annulment of arbitration award, so that China's arbitration can further adapt to and in harmony with the mainstream of modern international commercial arbitration.