On 20 May, Hainan Arbitration Center of the China International Economic and Trade Arbitration Commission (“Hainan Arbitration Center of CIETAC”) heard an arbitration case for the first time. In this case, It was agreed in the arbitration clause that any dispute arising from or in connection with the performance of this Contract failed to be settled through negotiation, shall be submitted to Hainan Arbitration Center of CIETAC for arbitration, and “the seat of arbitration shall be Haikou, and the hearing shall be held in Haikou".
The Hainan Arbitration Center of CIETAC was launched on 8 Sept. 2020. It aims to explore diversified dispute resolution mechanisms in line with Hainan’s economic development, such as in the form of arbitration and mediation, to carry out arbitration in fields such as finance, tourism, intellectual property rights, and real estate, and to provide quality and efficient legal services for commercial activities in Hainan Free Trade Port.
Cover Photo by Denny Ryanto (https://unsplash.com/@runninghead) on Unsplash
Contributors: CJO Staff Contributors Team