Publish time: Wed Dec 12 13:30:34 CST 2018
On December 5 2018, the Beijing Arbitration Commission / Beijing International Arbitration Center (the “BAC”) was nominated as one of the first five arbitration institutions under the "one-stop" international commercial dispute diversified resolution mechanism of the Supreme People’s Court (the “SPC”), as Ms. Wang Shumei, Deputy Chief Judge of the Fourth Civil Division of the SPC, read out the Notice of the SPC on Nomination of the First Batch of International Commercial Arbitration and Mediation Institutions incorporated into the "One-Stop" International Commercial Dispute Diversified Resolution Mechanism during the symposium on diversified dispute resolution mechanism for international commercial disputes held by the SPC.
The symposium
The symposium was moderated by Mr. Zhang Yongjian, Chief Judge of the Fourth Civil Division of the SPC. Mr. Luo Dongchuan, Vice President of the SPC, attended the symposium. Ms. Gao Xiaoli, Deputy Chief Judge of the Fourth Civil Division of the SPC, presented an introduction of key provisions of the Working Rules of the SPC International Commercial Expert Committee (Trial) and the Procedural Rules of the SPC International Commercial Court (Trial).
Dr. Chen Fuyong, Deputy Secretary General of the BAC, attended the symposium and delivered a speech. He said that the construction of the “one-stop” international commercial dispute diversified resolution mechanism is of high significance, and that the stress should be laid on a better user experience in the execution of such mechanism. The BAC will exert its influence within the industry, and promote the popularity and practice of the “one-stop” international commercial dispute diversified resolution mechanism through opportunities such as the Annual Summits on Commercial Dispute Resolution in China.
As per the Procedural Rules of the SPC International Commercial Court (Trial) effective as from December 5 2018, if the dispute amount of a case filed with the BAC exceeds RMB300 million or an international commercial case has other high significance, the parties are allowed to apply to the SPC International Commercial Court for preservation of evidence, property or behavior, and, after the arbitral award is rendered, to apply to the SPC International Commercial Court for the enforcement or annulment of the award.
The BAC will take its nomination in the SPC "one-stop" international commercial dispute diversified resolution mechanism as an opportunity to continuously endeavor to provide qualified and efficient diversified dispute resolution services to domestic and foreign commercial entities, to serve and safeguard the construction of the “Belt and Road”, and to protect the legal rights of parties home and abroad.
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