Arbitration rules for FTZ issued
Print Edition
THE first arbitration regulation for the Shanghai pilot free trade zone was unveiled yesterday, with several international rules being adopted to facilitate dispute resolution in the zone.
According to the regulation, enacted by the Shanghai International Economic and Trade Arbitration Commission, the disputing parties will be allowed to either choose arbitrators from a list provided by the commission or hire their own. Presently, the selection of arbitrators is limited to the roster of an arbitration institution.
The regulation, which will come into effect on May 1, also allows disputers to seek emergency relief prior to the formation of an arbitral tribunal. Traditionally, arbitral institutions required parties to table all issues until the arbitrators were appointed and the tribunal was constituted, a time-consuming process.
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