The fraudulent party can request the people's court or arbitration institution to revoke the contract, but the fraudulent party needs to exercise the right to revoke within one year from the date when the fraudulent party knows or should know the reason. But the fraudulent party needs to exercise the right to revoke within one year from the date the fraudulent party knows or should know the cause of the revocation began to calculate.

Legal basis:

Article 148 of the Civil Code

If a party fraudulently causes the other party to violate the true meaning of the civil legal act, the defrauded party shall have the right to request the People's Court or arbitration institution to revoke.

Article 149

If a third party commits a fraudulent act to make a party commit a civil legal act in violation of its true meaning, and the other party knew or should have known of the fraudulent act, the party being defrauded shall have the right to request the people's court or arbitration institution to revoke it.

Article 152

The right of revocation shall be extinguished in any of the following cases:

(1) the party does not exercise the right of revocation within one year from the date when the party knew or should have known the cause of revocation, and the party to a material misunderstanding fails to exercise the right of revocation within ninety days from the date when the party knew or should have known the cause of revocation;

(2) the party is subjected to duress and does not exercise the right of revocation within one year from the date of the termination of the duress. (b) the party is coerced, from the date of the termination of the coercive behavior did not exercise the right of revocation within one year;

(c) the party knows the cause of revocation expressly or by their own behavior to indicate that the waiver of the right of revocation.

If a party fails to exercise the right of revocation within five years from the date of the civil legal act, the right of revocation is extinguished.