Research On The Third Party System Of Commercial Arbitration

Under the background of international trade which has become increasingly complicated,there have been quite several countries joined the commercial arbitration system of the third party in its legislation,so that accommodate to the reality of the national development.As the industrial dispute has become increasingly complicated,commercial arbitration in the relevant procedural problems gradually aroused the public's attention,one of which is whether the commercial arbitration in the third person could participate in the arbitration proceedings or not.The Arbitration Law of the People's Republic of China revised in 2017 has not established the system of arbitration for a third party.The opponents believe that if the arbitration law establishes a third party system of arbitration and allows the third party to participate in the arbitration procedure,it will violate the precondition of the arbitration agreement.But in fact,there are general legal provisions of Civil Law,Contract Law,Insurance Law,Company Law and other statutory regulations in China which do not lack the legislative and theoretical basis for expanding the arbitration agreement.One serious drawback of lack of arbitration system of the third party is to affect the authority of law.If the third party in arbitration procedure brings a totally new lawsuit or arbitration against the original parties,then the original arbitration parties will have to participate in the judicial or arbitration procedure again,which clearly violates the arbitration principle that the arbitration award shall be final and the will of the original parties themselves.The following problem is that if a newly initiated judicial or arbitration procedure produces a conclusion inconsistent with the original judgment or award,it will undermine the validity of the final decision of the arbitration and to some extent undermine the authority of the law.Judging whether a system should be written into law should not be too immersed in the traditional view,but should stand in the perspective of development,to examine whether the system can promote efficient,rapid,fair and comprehensive settlement of disputes involved in litigation.Therefore,it is necessary to add relevant content on the participation of the third party in the arbitration in the future revision of the arbitration law.