Studies On The Legal Force Of International Commercial Arbitration's Agreement

The existing circumstances approaches to solve the debate of international commercial arbitration are scantly focusing on lawsuit and arbitration throughout the contemporary world. The Agreement of international commercial arbitration is the prerequisite for international commercial arbitration which is a worldwide comprehensive resort to ravel out the dispute of international commerce. Identifying the legal force of international commercial arbitration has both academic and practical significances for the gradual increment of international trade dissensions after the predicable procedure of incorporation of world economy and the tremendous development of China heading for the outside world more actively.The acknowledgement and fulfillment of arbitration agreement is the significant value of the existence and development of arbitration institution. Therefore the legal force of international commercial arbitration is the foundation stone for the presence and evolution of arbitration institution. This disquisition emphasized the issue of legal force of international commercial arbitration by means of enumeration and analysis to accentuate the concept, expression mode, legal force, validation. This paper would doubtless be referred by corresponding Chinese legal practice by recommending the updated developmental tideway and direction of legal affect of international commercial arbitration.The epilogue chapter of this dissertation "Regulations and Related Amendment Consummation Regarding the Modality of Arbitration of 《Law of Arbitration》 in China" is the main progeny. This chapter pointed out that maladjustment for requisites of economy and social development in China today concern many regulations of 《Law of Arbitration》 which has already been legislated for more than 10 years long. The prescription about the written format of arbitration agreement are blurry and rigid which confined the extension of range and amplification of content. And this is also a disadvantage for the absorbing and adopting of advanced international regulations and an obstacle for the development of the arbitration career. Therefore, it is necessary toadapt correspondingly our prescripts of arbitration agreement referring to the advanced international regulations. Hereby we can expedite the development of external trade and support the domestic enterprises to head for international market.