The Theoretical Basis For International Commercial Arbitration

International commercial arbitration, one effective means of dispute resolution for transnational civil commercial disputes, has been appraised by the legislators and parties to disputes thanks to its high extent of Party Autonomy. Lots of writings can be found in terms of its theoretical study. However, those writings emphasized the study on the regime and practice, instead of systematic elaboration on its theoretical base. 1 hold that the reason why legal regime is widely accepted is most essentially the value and goal found in the said regime besides the reasonableness, logic inherent in the said regime. Hence, the research in the theoretical base of a legal regime is very important. And I intend to probe into the theoretical base in hope of identifying the theoretical root of the legal regime.This article will be develop in three folds, namely, the definition of theoretical base for international commercial arbitration, the conception aspect of the theoretical base-party autonomy, the aspect of goal of the theoretical base-value analyses.Part one is to define the theoretical base for international commercial arbitration. I first differentiate the theoretical base and basic theory. Thereon based, the broad and narrow meaning of theoretical base has been defined. It is conclude that broad meaning of theoretical base comprises the representation of regime besides the regime itself, while the narrow meaning is the basis for the regime and its ultimate goal. I choose the narrow meaning as the staring point of my study. As regards the conceptual aspect of arbitration, it shall have the extensive scope and flexibility, from which all arbitration representations start, based on which all arbitration representation develops and at which all arbitration representation finds home. Party autonomy , which satisfies the reasonable explanations of arbitration representations, promote and perfect the arbitration. The aspect of goal is the value seeking of international commercial arbitration, and the goal the international commercial arbitration expects and hence determines the way arbitration will go and its role in history.Part two firstly elaborates the origin of party autonomy from the aspect ofmental origin and social basis, and analyzes the essence of party autonomy for the purpose of finding the connecting point between party autonomy and international commercial arbitration, i.e. the party autonomy of subjects in civil and commercial relationship. It then goes to the research that the party autonomy is base and reasonable existence of international commercial arbitration inconjunction with the demonstration of party autonomy in practice and positive significance towards arbitration. It is concluded that international commercial arbitration roots in party autonomy because of its contractual nature. The premises for arbitration, the reasonableness of arbitration both are attributed to the party autonomy. Therefore, party autonomy is paramount and very essential, and underlies the international commercial arbitration in terms of value. Additionally, due to the development of party autonomy, international commercial arbitration is more and more broadly chosen, hence it is perfected.Part three mainly elaborates the aspect of goal-value orientation. The first question in establishment of regime is deciding the scientific value. As regards the international commercial arbitration, its value lies in justice which is base and efficiency which is key. "Efficiency's joining makes the fairness in the procedural value system realer and justifiable." and "economically adjudicating the disputes is the radical reason why arbitration is part of social remedy. Therefore, balance between fairness and efficiency shall be the essential value orientation for international commercial arbitration. In this part, it is developed in three folds, firstly, the theory rethinking of the value orientation for international commercial arbitration and fairness and efficiency is identified; secondly, from the perspective of the inherent desi...