As two important dispute settlement organizations for civil and commercial disputes,the arbitration organization and court are supportive and contrary to each other.

The case study suggests that an arbitration agreement is valid when the parties have the capacity for civil conduct and their genuine intention is expressed,when the arbitration matters agreed upon are within the scope of arbitration prescribed by law,and when the arbitration organization is agreed upon and written agreement is made.

This paper discusses such issues as the properties of arbitration system, arbitration institutions and the relationship between agents concerned, arbitrators and arbitration institutions.

Different reformative approaches to restructure arbitration institutions reflect the divergence in interests among stakeholders.

The adhockery arbitration system,an important component of arbitration system as compared to institutional arbitration,is more flexible,convenient and economic,and meets the investor s requirement.

While in china,there is only institutional arbitration.

Even though the institutional arbitration system has swept over the world and has been more fashionable, with the advantages of flexibility and efficiency,the Ad hoc Arbitration is becoming more and more popular.

New type of arbitration agency has set up and developed for over ten years in our country.

From the Court of Pie Poudre to Modern Standing Arbitration Institutions:Trace the Footprints of Commercial Arbitration Institutions Development;