Arbitration & Mediation Services

Listing ID #2636913

Arbitration is the next preferred method where negotiation fails. Unless the parties can agree on arbitration after the dispute has arisen, the underlying contract or separate agreement must indicate that disputes will be resolved through arbitration. The Arbitration clause shall indicate the process of appointment of arbitrator, place of arbitration and number of arbitrators. In many instances, international arbitration is an effective though perhaps underutilised dispute resolution mechanism Especially in China and India. Arbitration also offers an advantage over litigation because of the finality of the rulings. Court rulings are subject to appeal, which means litigation may continue for a lengthy period of time.
Agreements to arbitrate usually specify a choice of arbitration body, which may be located in country of contract party or other country.
In China there are two Chinese government-sponsored arbitration bodies for handling cases involving at least one foreign party :

• China International Economic and Trade Arbitration Commission (CIETAC) and
• China Maritime Arbitration Commission (CMAC).

In India there are major three arbitration institute which provides alternate dispute resolution :

• Indian Council of Arbitration (ICA)
• Indian Institute of Arbitration & Mediation (IIAM)
• The International Centre for Alternative Dispute Resolution (ICADR)

In Hong Kong, there are three major arbitration institutions :

• The Hong Kong International Arbitration Centre (or HKIAC)
• Hong Kong Mediation and Arbitration Centre (HKMAAC)
• Hong Kong Institute of Arbitrators (HKIArb)

Companies should clearly mention in contract  an alternative to any country base arbitration if they choose international body like Singapore Arbitration Centre.