International Arbitration Agreement Draft

(a) the court of the seat of arbitration shall supervise and manage the arbitration in accordance with local arbitration law and shall have the power to review and set aside the arbitral award; In general, the parties must take the following into account when selecting an arbitral institution: 10. Acceptance of arbitration proceedings under this clause shall not prevent the parties from requesting interim safeguard measures from a competent court or other judicial authority, provided that they always comply with the procedural or other requirements imposed by that court or other judicial authority. This arbitration agreement provides for two elements. First, CIETAC is the agreed arbitral institution. Second, the arbitration proceedings should be „conducted” in accordance with Hong Kong laws. The two sides did not clearly agree on the seat of arbitration and CIETAC has its headquarters in mainland China and has a branch in Hong Kong. During the arbitration proceedings, much controversy was wasted on the interpretation of this clause. 4. As soon as possible after its establishment, the Tribunal shall convene a meeting (personal or telephone) with the parties or their representatives to determine the procedure to be followed in the arbitration. These issues can be addressed at an early stage of the procedure.

However, if the parties prefer greater certainty, they may wish to have this issue addressed in the arbitration clause, for example by stipulating that issues relating to the preparation of documents are subject to the International Bar Association Rules on The Taking of Evidence in International Commercial Arbitration11 They may also prefer that the Prague Rules apply.12 These are more recent and less discussed than the Rules. of the IBA and are generally applied. a more civil approach to the procedure and, in particular, to the preparation of documents. In any case, make sure you know what you agree with if any of them are to be accepted. Also, be sure to carefully define the scope of the arbitration proceedings. If you do not agree that all disputes, including tort claims and other non-contractual remedies arising out of the contract and business relationship, must be resolved, be sure to exclude any dispute that should not be subject to arbitration. Be careful with the law of the seat and whether it explicitly excludes certain topics and disputes as indispensable (such as family law in most jurisdictions). „All disputes, controversies or claims arising out of or related to this Contract or their breach, termination or invalidity shall be finally settled by arbitration, in accordance with the Arbitration Rules of the Arbitration Body of the Stockholm Chamber of Commerce.” b) It is natural to use the law of the seat of arbitration as a right of arbitration. . . .

Comments are closed.


  • Brak kategorii