The Security For Costs Im International Commercial Arbitration

International commercial arbitration,which is more and more popular in the international community has become one of the main legal methods to solve international civil and commercial disputes.Accordingly,a series of international systems used to regulate international commercial arbitration have come into being.Usually,the winning party of international commercial arbitration,of course,requires the losing party of which to bear the costs incurred in the arbitration procedure.Thus,the most critical issue for the winning party is whether it can successfully get the compensation after receiving the arbitration award of tribunal.If the losing party is unable to perform the costs award due to objectively economic difficulties or subjectively transform property before or during the proceedings to avoid the performance of costs award,which is made by the arbitration tribunal is just a piece of meaningless paper.Especially when the respondent made a successfully defend but still could not get compensation from the applicant for various subjective and objective reasons,which is extremely unfair to the respondent.Because the applicant possess the initiative in whether to enter the arbitration process and the respondent can only defend passively.In order to avoid such injustice and to ensure the realization of the fee ruling,the Security for Costs,which requires the applicant to submit a certain amount of guarantee or provide another form of guarantee,has also emerged.The first part of this thesis introduces related concepts of the Security for Costs and analyzes its legal attributes,meanwhile,excavates and summarizes the function of the Security for Costs.The second part makes an analysis on the justification and legitimation as well as the necessity and feasibility of the Security for Costs if such legal system were to be introduced into our China.The third part further to discuss about the provisions of the Security For Costs not only in international arbitration institutions but also in national arbitration institution from a comparative perspective,supplemented by relevant cases,so as to present clearly how the world make specific provisions in paper and handle in practice about the Security For Costs.The final part makes a basic assumption about introducing the Security for Costs,with a beautiful hope that the Security for Costs could be introduced into China in the future.