Arbitration – domestic and international16Jun2016
The global interest in Asia and in particular inbound investment to China has led to a sustained increase in Hong Kong arbitration as a dispute resolution mechanism in commercial contract agreements.
The absence of robust legal systems in some parts of Asia has meant that contracts for projects in this region often stipulate that Hong Kong should be the main arbitration system used to resolve disputes due to its long and established reputation for offering a reliable, neutral, confidential and efficient solution. Further afield, many commercial parties from Europe and North America entering into business in Asia will select Hong Kong as the preferred jurisdiction for arbitration for the multilingual legal system and modern, progressive and reliable service mind set.
Tanner De Witt is engaged on domestic and international arbitrations in Hong Kong and works on arbitrations administered by: Hong Kong International Arbitration Centre (HKIAC), China International Economic and Trade Arbitration Commission (CIETAC), International Chamber of Commerce (ICC), London Maritime Arbitrators Association (LMAA), the core legal body of the UN system in the field of international trade law, United Nations Commission on International Trade Law (UNCITRAL), and others.
Why choose arbitration?
Parties choose to use arbitrators with relevant sector knowledge and experience for their disputes for a range of different reasons. Arbitration can lead to faster resolution with less conflict and stress than taking the dispute to the court system. Parties are free from the court timetable and the objective is to come to a solution with less conflict which can lead to faster results. Arbitrations also provide greater levels of confidentiality in proceedings.
Although arbitration is not always cheaper than traditional litigation, Tanner De Witt will help clients to resolve conflicts in a cost-effective manner with minimum disruption to commercial relationships.
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Disclaimer: This publication is general in nature and is not intended to constitute legal advice. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.