China International Economic & Trade Arbitration Commission

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Contents

[edit] General Information

  • Official name: China International Economic & Trade Arbitration Commission
  • Country: China
  • City: Beijing
  • Type of organization: Arbitration Court
  • Date of creation: 1956
  • Interests: Arbitration - Online dispute resolution
  • Fields of expertise: Economic and trade disputes

[edit] Description

[edit] Origin

The China International Economic and Trade Arbitration Commission (CIETAC) is a major permanent arbitration institutions. Formerly known as the Foreign Trade Arbitration Commission, the CIETAC was set up in April 1956 under the China Council for the Promotion of International Trade (CCPIT). To meet the needs of China's ever-developing economic and trade relations with foreign countries after the adoption of the "reform and opening-up" policy, the Foreign Trade Arbitration Commission was firstly renamed as the Foreign Economic and Trade Arbitration Commission in 1980, and then as the China International Economic and Trade Arbitration Commission in 1988. Since 2000, the CIETAC is also known as the Arbitration Court of the China Chamber of International Commerce (CCOIC).

[edit] Activities

The CIETAC independently and impartially] resolves economic and trade disputes by means of arbitration.

The CIETAC has its headquarters in Beijing and three sub-commissions in Shanghai, Shenzhen, and Tianjin, respectively known as the CIETAC Shanghai Sub-Commission, the CIETAC South China Sub-Commission and the CIETAC Financial Arbitration Center in Tianjin.

In order to meet the needs of the development of its arbitration practices, the CIETAC also successively established 21 liaison offices in different regions and specific business sectors to provide parties with convenient arbitration advice.

To meet the demands of the parties, the CIETAC took the initiative to introduce into its arbitration practice dispute resolution services in specific business sectors, such as grain, commerce, construction, finance, leather and wool transactions.

Moreover, CIETAC provides online dispute resolution service to the parties and is strongly engaged in research on the online resolution of e-commerce disputes so as to further develop an arbitration-centered multi-solution ADR system that meets the demands of the parties.

Throughout the past 50 years, CIETAC has made prominent contributions to the legislation of the Chinese Arbitration Law and the development of the arbitration practice in China, has maintained positive relations and cooperation with all the major arbitration institutions across the world and gained the reputation at home and abroad as an independent, impartial and efficient arbitration institution.

[edit] Scope of Jurisdiction

The CIETAC resolves by means of arbitration disputes arising from economic and trade transactions of contractual or non-contractual nature. These disputes include:

  • International or foreign-related disputes;
  • Disputes related to the Hong Kong SAR, the Macao SAR and the Taiwan region; and
  • Domestic disputes.

[edit] Financial Dispute Resolution

The CIETAC has issued its Financial Disputes Arbitration Rules, which shall apply to cases upon the parties’ agreement. The Rules have provided a more expeditious and professional method for resolving financial disputes.

According to the CIETAC Financial Disputes Arbitration Rules, unless otherwise agreed by the parties, the arbitral tribunal shall render an arbitral award within 45 working days from the date on which the arbitral tribunal is constituted. At the request of the arbitral tribunal, the Secretary-General of the CIETAC may extend the time period as needed. However, the extension may not exceed 20 working days.

The arbitration fee charged for cases applying the Financial Disputes Arbitration Rules is much lower than that in other arbitration cases before the CIETAC.

CIETAC has engaged over 100 experts and distinguished personnel in the field of finance as arbitrators.

[edit] Links

On their [www.cietac.org website] you can access to:

  • CIETAC Arbitration Rules
  • China International Economic and Trade Arbitration Commission

Financial Disputes Arbitration Rules

  • China International Economic and Trade Arbitration Commission Online Arbitration Rules

[edit] Contact

6/F Golden Land Building 32 Liang Ma Qiao Road, Chaoyang District, Beijing 100016, China

Phone: +86 (0)10 6464 6688

Fax: +86 (0)10 6464 3500 / 6464 3520

Email: CIETAC@public.bta.net.cn

Official Website

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