Research On Third-Parties Of Arbitration

With the economy developing and society advancing, especially in the market economy, once business case might treat of many pacts and multi-side parties, but it also will lead to profit disputed during multi-side. In the practice of arbitration, the arbitral Third-Parties is an important problem. This challenges to the conventional arbitral theory.There is biggish argument in theory domain. Despite active law doesn't prescribe "the third party" system in arbitration law, in the practice of arbitration it's essential to analyze academic theories and constitute corresponding regulations. In realistic arbitration practice, the third party holds the balance to factual cognizance in disputed cases and relates to the advantages and disadvantages in the case. Apparently, in this case, if the third party is excluded, party not only will be confirmed with huge difficulty but also the tangle will not be settled quickly. It also advises to find out the truth of the case and to definitude right and obligation between both parties. With continual innovations of contemporary legal theory and constant breaks upon old doctrine, former ideas that shackle people's brains on the issue of arbitral Third-Parties have come into dissolution gradually. Many theoretic researches and practical handles have plunged into exploration and analysis on the possibility and rationality of establishing Third-Parties system into arbitration. Meanwhile, some countries have introduced Third-Parties system into arbitration mechanism and operated this new system in their arbitration procedures.Arbitration Act of our country, based on arbitration agreement and according to the bilateral dispute, has not considered the third person of question. To balance rights and interests between the third person and arbitration litigant, the key question about designing Third-Parties system lies in how introduce the third person of system following the arbitration basic principle and at the same time guarantee the principal of arbitration which is convenient, high effective and low cost.