Hkiac Arbitration Agreement


The Hong Kong International Arbitration Centre (HKIAC) has just published new standard clauses that define the law of the arbitration agreement. Contracting parties who wish to have future disputes referred to arbitration under HKIAC may insert a compromise clause in the contract in the following form: As stated in the notes relating to this optional provision, it is recommended that the parties include this provision in their arbitration agreements, particularly where the law of the material contract is different from the law of the head office. This optional provision was introduced to avoid unnecessary uncertainties and costs of potential incidental litigation to determine which law should be applied (see HKIAC press release of August 1, 2014, available at hkiac.org/en/news/483). In this article, I will compare and discuss the fast-track rules (“EP rules”) used by different arbitration institutions to decide on a standard number of arbitrators for such an expedited procedure. One of the key concerns of Article V, paragraph 1, point (d) of the New York Convention is the balance between the autonomy of the parties and institutional control in arbitration proceedings…. Part I In recent years, we have seen an increase in requests to include arbitration clauses in derivatives and other financial product documents, particularly in the Asia-Pacific region. Indeed, the International Association of Exchange Contracts and Associations (ISDA), which is responsible for the development of the most widespread industrial model of the Master-Vertrags, has been set up,… Under the current Chinese legal framework, while Chinese courts have exclusive power to grant interim facilities to facilitate arbitration, courts do not have an explicit legal basis to support “offshore” arbitration. However, two recently released Chinese court proceedings seem to have broken the form in…

“Any dispute or difference resulting from this contract or related to this contract is first referred to the Mediation of the Hong Kong International Arbitration Centre (HKIAC) and in accordance with the mediation rules that will then apply. If the mediation is abandoned by the Ombudsman or otherwise concluded without the dispute or difference being resolved, the dispute is referred and determined by arbitration to HKIAC and in accordance with the national arbitration regulation.┬áIn a development important to the region, mainland China and Hong Kong have announced a bilateral agreement whereby Chinese courts will recognize and implement interim measures to support Hong Kong institutional arbitration (the arrangement).

Posted Friday, April 9th, 2021 at 9:42 pm
Filed Under Category: Uncategorized
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