Time and cost management in arbitration

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Time and costs are two challenging issues in the world of commercial arbitration today, so reflected by the latest Survey by Queen Mary University of London and White & Case.

time-and-cost-management-in-arbitrationChina International Economic and Trade Arbitration Commission (CIETAC) Hong Kong Arbitration Centre administers cases in which parties are from different nations – in this situation, if we follow the default setting provided by CIETAC Arbitration Rules, that parties need to serve the arbitration documents to the other party via the Arbitration Court of CIETAC Hong Kong Arbitration Centre in hard copies, it will take at least a day or two for the submissions to pass from one party to the arbitration court, and another day or two from the arbitration court to the other party.

After several rounds of submissions from one party and corresponding comments from the other side, several weeks may have been spent. It’s a lot of time if we bear in mind that the time limit for an arbitrator to render an arbitral award in summary procedures is only three months.

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Wang Wenying is the secretary-general and Rachel Qin is a case manager at CIETAC Hong Kong Arbitration Centre and China Maritime Arbitration Commission Hong Kong Arbitration Centre

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