Study Of International Commercial Arbitration Award

With the rapid development of economy and trade of the world, there often exist disputes in international economy and world trade. Accordingly, a dispute-solving system is badly needed. International commercial arbitration, because of its distinctive superiority, contributes mainly to solving disputes existing in international economy and world trade. Undoubtedly, international commercial arbitral awards are the most decisive legal documents in international commercial arbitration procedure, because it is not only the result of the tribunal, but also the basis of enjoying rights or undertaking duties of the parties and the basis of the enforcement of the court. Every country's arbitration law, every arbitral organization' arbitral rule and some international conventions on arbitration in the world all regulate the arbitral award system. This makes fundamental systems and regulations on arbitral awards better developed. China is also a signer or a participant of many arbitration conventions, and it was in 1994 that Arbitration Law of the People's Republic of China regulating the arbitral awards more comprehensively was enacted in China. However, different understandings by different countries on arbitral award and the differences between the legislature theory and legal practice in every country result in the fact that there appear conflicts in the theory and practice of international commercial arbitration. As Arbitration Law that was enacted in 1994 is the first specialized arbitration legislation in China's history and the development of arbitral theory and practice is not quite perfect, the arising of some problems is normal and even unavoidable. This thesis thus mainly discusses the concept of international commercial arbitrational awards, the publication, effect, file, and remedy of international commercial awards, analyzes the regulations of the arbitration law of China, and then summarizes the general law in the awards systems of the international commercial arbitration. This thesis also points out the existing problems in arbitration award system in China and puts forward suggestions on law making, hoping to promote the development of arbitration enterprise in China, to meet the needs of reform of market economic system and to develop towards the developing trend of international commercial arbitration system by theoreticalanalysis and comparative study. The whole thesis is divided into three parts, namely, the introduction, the body and the concluding remarks, with the body consisting of four chapters.In international commercial arbitration, how to define the fundamental conceptions such as "arbitration", "international commercial arbitration" and "award" appears to be of great importance. If we want to grasp the intension and the extension of the international commercial arbitration award exactly, we must clear them up first. And these contents will be expounded in the first chapter.The arbitration award is not only the final result of the arbitration procedure but also the basis of enjoying rights or undertaking duties of the parties, so the award should be made legally and properly and the award should meet the requirements not only in form but also in essence. As soon as the tribunal made a legal award, the award will exert some effect and the parties should perform the duties in the award. If some mistakes arise in the award, the parties should be permitted to apply for remedy. These questions will be studied in the second and third chapters.Finally, this thesis will review and analyze the arbitral law in force of China and try to find its defects and put forward remedial measures in the fourth chapter.