Research On Public Policy In Recognition And Enforcement Of Arbitral Awards In International Commercial Arbitration

As economic communication between countries is growing rapidly,demand for disputes dissolving proves to be strong.Comparing with litigation,arbitration,which has the characteristics of high efficiency and confidentiality,is appreciated by all parties involved.However,no matter which methods are chosen,enforcement of arbitral award or court judgment is the top priority.Besides,public policy maintains the focus as defense of refusing enforcement of arbitral awards.As a matter of fact,there is not a uniform standard to follow,despite of widespread use of public policy.Even if international treaties stipulates that recognition and enforcement of the award may be refused in the case of being contrary to the public policy,such as New York Convention and UNCITRAL Model Law on International Commercial Arbitration,both treaties don't cover the specific regulation of applying.Therefore,public policy issues have great realistic and theoretical significance.This paper starts with the general theory of public policy in the international commercial arbitration fields,introducing the basic theories of public policy including concepts?function and characteristics.Besides,the author also analyzes concretely the application of public policy in the recognition and enforcement of foreign arbitral award specified in the New York Convention.It follows that several typical judicial practices are discussed in detail.Eventually,the author concludes with applicable suggestions of existing problems.This paper is divided into four chapters.Chapter 1 conducts theoretical analysis,introducing the basic principles of public policy such as concept,function and the necessity of applying public policy;Besides,explores the history of public policy in the recognition and enforcement of international commercial arbitral awards;concludes with the regulations of the New York Convention.Chapter 2 continues to analyze the concrete situation of applying public policy,which includes the illegal contract,apparently violating in mandatory regulations,issues of arbitration,in violation of due process and the effectiveness of form of arbitral awards.Chapter 3 analyzes the judicial case and summarizes the principle of public policy,which is supposed to direct in the judicial practice.Chapter 4 emphasizes the theory construction,which analyzes the existing problems in the legislative and judicial practice and makes conclusively suggestions regarding this area.