Law Effectiveness On Agreement Of International Commercial Arbitration

With the development of the globalization of the world, economy, international business affairs arbitration has become the most common and important means of solving disputes over modern international economy and trade. During the process of arbitration, international business affairs arbitration agreement ( hereinafter arbitration agreement ) is of most importance, which is the precondition and milestone of arbitration. With the development of international economy and trade, international arbitration is developing, thus studying the law power of arbitration agreement is not only theoretical but also realistic.This article systematically analyzes and summarizes the concept, form of expression, the main composition of effective arbitration agreement, the ineffectiveness of arbitration, ambiquity of content, non-execution, effectiveness affirmation, reutiliazation, and the effectiveness of the newly-born online arbitration agreement etc. And through citing laws of each country, international pacts and practice of justice, this article lists different views of current theory world and demonstrates comprehensively the effectiveness of arbitration agreement. Through analysis and demonstration, we realized that arbitration agreement is of much importance, which is closely related with every process in the arbitration. It is not only the evidence which the litigant brings, but also the evidence with which the arbitration organization judges the case. It is also the evidence of arbitration procedure execution and applicable laws selection, and it is rather the evidence of application to foreign countries for recognization and execution with the exclusion of court administration. So we can say that there will be no arbitration without arbitration agreement. In the meantime, we understand that the requirement on the form and content of the arbitration agreements of each country andeach pact is strict on the common sense, that is to say that the ordinaryagreements must have its written form, and its content must not violatethe execution laws of arbitration agreement. In the meanwhile, we can easilysee that with the consecutive development of the world economy and trade,and with the various new means of transmission, the internationalorganizations in each country are urging their businessmen to usearbitration, the effective means of solving business affairs disputes, inorder to support international business order. Under the precondition ofensuring arbitration verdict to be recognized and executed, we should carryout various remediation measures and support the effectiveness ofarbitration agreement to the uttermost so as to make sure that the personsconcerned select the arbitration means to solve disputes, and protect thelegal rights and interests of them more effectively. So, the means usuallyused by international laws and laws of each country are to modify laws andregulations, and supplement the arbitration agreement in writing. Somedeveloped countries even simplified the content of arbitration agreement.But we must see that each country has many differences in the study ofarbitration theory and relative legislations. For example, the time forobjection to the arbitration agreement put out by the persons concernedin the Arbitration Laws of our country is not in conformity with the thoseof international regulations. Some regulations in New York Pact also needsto be modified. I believe that with the deep study of arbitration theoriesin each country, continuous perfect of the relative laws of each countryand the continuous renovation of economy and trade and informationtransmission means, the international business affairs arbitration willbe developed greatly.