The Arbitral Award Issued Ex Aequo Et Bono

An arbitral award issued ex aequo et bono is a corresponding concept to awards issued in accordance with the law in international arbitration. The parties authorize their tribunal with this wide discretion power and the freedom of not applying strict legislation rules, in order to get a fair award to their disputes.This thesis discusses the developing history of arbitral decision ex aequo et bono in both national and international arbitration areas by firstly studying its latin etymology. Further study of ex aequo et bono arbitration is made by discussing some existing academic views. Additionally, the present situation of this arbitration system in China is pictured in theoretical and practical aspects and the author’s point of view is expressed. The third and forth parts of the thesis explore value orientation of ex aequo et bono arbitration starting with a general analysis of arbitration’s value orientation, and two typical international arbitration cases are cited in discussing factors affecting the relation of values of fairness and efficiency. Finally based on the former comprehensive analysis of defects of ex eaquo et bono arbitration, advice of revising this arbitration system is made in the last part.