Research On The Effect Of International Commercial Arbitration Agreements

International commercial arbitration is one of the most important system to solve commercial dispute. However, arbitration agreement is the key part of that system, to some extent, it's the foundation of that system. A valid international commercial arbitration agreement ensures that the arbitral procedure can goes well, it's also the direct basis for the recognition and enforcement of the arbitral award. So, it has great meaning in both theory and practice fields to study the validity of international commercial arbitration agreement.A valid international commercial arbitration agreement must satisfy some formal and substantial conditions. But what kind of formal and substantial conditions should it have? Which institution has the right to make decision on the validity of the arbitration agreement? Which law should the institution apply to the arbitration agreement? Varying legislations are given by different countries. Though some consistent stipulations have been made by most countries, with the development of science and technology and the development of international commercial practice, they are out of date now. So, it's necessary to reconsider the traditional theory and practice of international arbitration and analyze new emerging questions and problems in order to find a new way.This paper focus on the validity of international commercial arbitration agreement. An entire and systematic discussion has been made in this paper on the valid condition of arbitration agreement, applicable law to arbitration agreement and the proper institutions which have the right to make decision on the validity of arbitration agreement. In addition, this paper also points out the defects existing in Arbitration Law of PRC, some advice is also given by this paper on the amending of the law.A valid international commercial arbitration agreement must satisfy some formal and substantial conditions. Most countries in the world including China require that arbitration agreement should be in "written form". Fortunately, to be a tendency ,the intension of "written form" has been explained more widely . As a rule, parties' capacity to contract andconsensus must be satisfied, the dispute stipulated in arbitration agreement must be arbitrable as well.It is known to all that arbitral tribunal, court and other competent authority have the right to make decision on the validity of international commercial arbitration agreement. But the application of law to arbitration agreement is quite a problem. Because there are much difference in the law of every countries as well as the practice. Therefore, we should make specific analysis on specific case following the principle of the autonomy of parties" will.By comparing studies on Chinese and international commercial arbitration agreement legislations and practice, we can find some defects existing in Arbitration Law of PRC, it need to be amended , and some advice is given by this paper.