The Research On The Revocation Of International Commercial Arbitration System

Relies on “arbitration award shall be final and binding”, international commercial arbitration exists and well developed. Quickness becomes the most common dispute solution in the international commercial activity. In order to match with the successful implementation of arbitration, give full play to the difference from lawsuit, other countries made a series of judicial supervision system to ensure arbitration. The UN "Model Law on International Commercial Arbitration"(1985) clearly states that "the only recourse against an arbitral award".It means revocation is currently the most typical way of judicial supervision legitimate means.However, revocation of arbitration ruling system has initially established in current law system in China, which has a very important role on the implementation of the fair value of arbitration. In practice of arbitration is out of the efficiency value. Justice and efficiency is the fundamental values of arbitration, and both of them are the core status of arbitration system. The justice can’t be based on the expense of efficiency, and vice versa. Through the compare of revocation of arbitral award system in other western countries, it can be found many defects in our current system of arbitration awards revocation. We should improve and perfect the system, in order to facilitate the revocation of arbitration ruling system conforms to the international commercial arbitration system. So that an arbitration under the premise of fair as far as possible to meet the party’s desire for efficiency value.