As China plays an increasingly important part in the world economy, international commercial disputes involving China parties have shown a trend of rapid growth. Data released by China Academy of Arbitration Law in September 2016 show the number of accepted international commercial arbitration cases involving China parties has increased significantly in 2015. So the question is, how do you choose the arbitration institution for international commercial dispute resolution in China?
The arbitration rules. The quality of case management by a commercial arbitration institution is greatly influenced by the arbitration rules of that institution. Arbitration rules reflect the concept of case management of these arbitration institutions, and also govern procedure, from the acceptance of arbitration cases to their closure. Arbitration institutions worldwide embody their own concepts and institutional innovation in their rules based on their own experience in commercial arbitration, institutional innovation and the developments of legal systems.
When drafting provisions for dispute resolution, the parties concerned must be aware of the rules of the selected arbitration body. It will undoubtedly help parties to enjoy the unique advantage of “process controllable” in arbitration if the parties use arbitration rules reasonably to negotiate dispute settlement provisions.