On Commercial Arbitration Power

Commercial arbitration (CA), as a substitute of litigation, is a way of solving the commercial disputation and controversies. It is a system to solve the controversies between the parties concerned and ensure the relation of right and obligation of the parties concerned when both parties have commercial controversies. If so, according to the agreements established by both parties, they volunteer to give the commercial controversies to the third party for a promissory adjudication. In the process of the economic globalization, CA, a principal principle based on theory of autonomy of the parties, plays an increasingly important role.Commercial arbitration power (CAP) is the basic and core of CA, and the pivot of promoting the procedure of CA. The essence lies in that when the parties have commercial controversies, in the law-empowered field, both parties, according to the arbitration court empowered by the agreements of both parties, are entitled to give righteous arbitration over the commercial controversies between both parties. CAP, deriving from empowerment of both parties and legal regulations, has the characteristics of being party autonomy, nongovernmental, and national jurisdiction, etc. Performance subject of CAP is the CA court. On the basis of principles of procedure justice, benefits and secrecy, etc., the court performs concretely arbitration jurisdiction, procedure command Power, evidence confirmation right, arbitration adjudication Power. The ultimate effect of performing CAP is made up of the self-fulfillment of CAP and the court's admission and execution of CAP. Norms of CAP in China has a variety of defects, which have a direct influence on the development of the arbitration undertaking in China. It is necessary to refer to correlative regulations of foreign and international conventions and use other countries experiences for reference. In order to establish CA organizations and regulations conforming to international regulations, which ensure that CAP has necessarily legal effect, arbitration lawmaking in China is supposed to be perfected in perspectives of maintaining arbitration property and judicial review of arbitration adjudication, defining accurately the quality of CAP.