1. Many disputes and agreements cannot be reached, or there are still some disputes that need arbitration. The result of arbitration is relatively fair, and it is also a way to solve disputes. There is also a limitation problem in arbitral awards.

2. The award shall take legal effect from the date of making. The ruling has been in effect.

3. The model text of China's Provisional Arbitration Rules and two foreign-related arbitration rules clearly stipulate this time as the date of making the award. There are two situations here. If the arbitral tribunal announces the contents of the award in court, the time for announcing the award shall be the time for making the award, and the arbitral award shall take effect from the time of announcement; If the arbitral tribunal fails to announce it in court but later delivers the award, the time when the award is made, signed by the arbitrator and stamped with the seal of the arbitration commission shall be the time when the arbitral award is made, and the award shall take effect from that time.

Introduction to arbitration

Arbitration refers to a dispute settlement method in which both parties agree to submit the dispute to a third party (with recognized status), and the third party will judge the merits of the dispute and make a ruling. Arbitration is different from litigation and trial. Arbitration requires both parties to be voluntary, which is also different from compulsory mediation. It is a special kind of mediation and voluntary arbitration, which is different from compulsory arbitration such as litigation. Arbitration is generally a system in which the parties voluntarily submit their disputes to an arbitration tribunal composed of arbitrators from non-judicial institutions for arbitration according to the arbitration agreement concluded by both parties and are bound by arbitration. Arbitration activities, like court trial activities, are related to the substantive rights and interests of the parties and are one of the ways to solve civil disputes.

Commercial arbitration refers to a way that the buyer and the seller sign a written agreement before or after the dispute occurs, and voluntarily submit the dispute to a third party agreed by both parties for arbitration, so as to solve the dispute. There are two forms of arbitration agreement: one is concluded before the dispute occurs and usually appears in the contract as an arbitration clause; The other is an agreement concluded after a dispute has occurred and submitted to arbitration. These two forms of arbitration agreement have the same legal effect.

Civil disputes can usually be brought to court or tried by arbitration institutions. Arbitration means that both parties to a dispute reach an agreement before or after the dispute and voluntarily submit the dispute to a third party for adjudication.

Arbitration institutions are different from courts. The court exercises judicial power entrusted by the state, and there is no need for both parties to reach an agreement before litigation. As long as one party brings a lawsuit in a court with jurisdiction, after the court accepts it, the other party must respond. Arbitration institutions are usually non-governmental organizations, and their jurisdiction to accept cases comes from the agreement of both parties. Without an agreement, they have no right to manage.

If there is a civil dispute, it can be settled through arbitration. The arbitral award is time-limited, and it does not take effect immediately. Sometimes it only takes effect after the ruling.

legal ground

Article 57 of the Arbitration Law of People's Republic of China (PRC)

The award shall take legal effect as of the date of making it.