China Matters: CIETAC Announces Key Changes to Arbitration Rules
May 14, 2012
BY ANANDA MARTIN & JAMES E. BERGER
After two years of debate and several rounds of amendments, the China International Economic and Trade Arbitration Commission (CIETAC) has finalized revisions to its arbitration rules, which came into effect May 1, 2012 (the Revised Rules). The Revised Rules will increase party autonomy, reduce unnecessary expense, and bring CIETACs rules and procedures into greater conformity with those of other major international arbitration providers.
Significant changes include allowing CIETAC to designate a seat of arbitration outside of the Peoples Republic of China, allowing arbitral tribunals to grant interim relief in aid of arbitration, and permitting arbitration to be held in languages other than Mandarin Chinese. On balance, the Revised Rules should continue the process of increasing CIETACs appeal as a respected forum for international dispute resolution.