Property Preservation In International Commercial Arbitration

With the high frequency of international commercial affairs and rapid development of global economic activities, international commercial disputes continue to increases as well. The way of solving those disputes changes from traditional litigation to international commercial arbitration. In consideration of the large scale of international commercial disputes, large amount of referred subjects as well as complicated and tremendous cases, measures of property preservation gradually become an important part during international commercial arbitration process.As a provisional measure, property preservation, as it implies, refer to the property that is disputed in the arbitration. The appearance of property preservation can provide urgent relief to the party’s property profit to a great degree and provide safeguard to one of the parties to win the lawsuit. At the same time, it offers good guarantee for the arbiter’s final adjudication. However, property preservation is also a double-edged sword. If the applicant abuses this procedure, it might cause certain loss to the defendant’s profit.More and more people begin to concern about property preservation in the commercial affairs arbitration, which becomes a common part in the arbitration process gradually. However, as to property preservation, there are still many problems in the actual arbitration due to different legal provisions from different countries.Currently, effective and systematic regulations are lacked in property preservation procedure internationally. As international business arbitration is getting more and more influential, the research and perfection of property preservation system has become an indispensable part. Along with the development of globalization, integration and regionalization, international business arbitration occupies an increasingly important position, which is in urgent need of law and treatment to ensure the new and overall development property preservation system so that to adjust the changing times. Meanwhile, it is also used to solve the contradiction in the international business activities. In consideration of this case, research on property preservation is of great practical significance.As an important part of foreign-related arbitration, there isn’t a systematic property preservation procedure in our country. The property preservation system is devoid of specific law regulation and is different from the foreign trend. There are still some loopholes and defects and at the same time some deficiencies in legislation.This essay illustrates and explores the procedure of property preservation through six chapters, which is composed of the concept of property preservation, research value, issuing procedure, partition of court and arbitral tribunal and so on to give a systematic elaboration on property preservation. This essay combines domestic and overseas legislation as well as different arbitration systems. It explores the defects and loopholes of domestic legislation and provides some suggestions in comparison with the legislation and current status of our country and the developing trend of international arbitral field.This essay reflects the controversial issue in property preservation system, especially in the time for application and different right mode and so on. It comes to the conclusion of extension of the period for application and the enlargement of the right of arbitral tribunal. Meanwhile, this essay also brings forward some relevant suggestions of property preservation and the amelioration of our arbitral system.