Arbitration is an important way to resolve international commercial disputes. The parties often fail to identify the arbitration institution precisely due to the wrong name of the arbitration institution in the arbitration agreement, which is called a pathological arbitration agreement.
Specification of an arbitration institution is an important expression of the willingness of the parties to arbitrate, and it is also a prerequisite for the arbitration institutions' jurisdiction over disputes.
It is important to promote the settlement of diversified cross-border commercial disputes, and to promote the international mutual recognition and enforcement of foreign-related commercial arbitral awards.
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