​HKIAC's Unmatched International Commercial Arbitration Success

HKIAC's Unmatched International Commercial Arbitration Success
 
HKIAC has long arbitrated international business issues as a charity. HKIAC's impartiality and independence make it a popular arbitral tribunal. This article examines HKIAC's history, arbitration rules, and several triumphs in difficult international business disputes.
HKIAC history
 
 
The nonprofit HKIAC arbitrates international business disputes. The 30-member council and 11-person Secretariat are based in Hong Kong. Business and legal professionals recognize HKIAC's long experience in arbitrating complicated international commercial issues.
HKIAC establishment
 
HKIAC began as the Hong Kong Branch of the London Court of International Arbitration in the early 1980s (LCIA). It became autonomous in 1986 and is a Recognized Institute under the Arbitration Ordinance.
Hong Kong businesspeople and lawyers saw the need for a local arbitration organization in the late 1970s and founded HKIAC. The LCIA arbitrated most international business disputes in London. London's impartiality and independence made it a popular arbitral tribunal.
The organization proposed opening a Hong Kong LCIA office to provide a comparable service. The LCIA created HKIAC.
HKIAC has grown since. Business and legal professionals appreciate it for its sophisticated international commercial battles. It has also been engaged in more Mainland Chinese arbitrations recently.
HKIAC arbitrates.
 
HKIAC follows the UNCITRAL Model Law on International Commercial Arbitration. HKIAC Secretariat manages the English, Chinese, and French regulations. Two-thirds of the HKIAC Council may change the regulations.
The HKIAC Secretariat enforces regulations and assists arbitral tribunals. The Secretariat offers arbitration and mediation training, conflict resolution research, and publications.
HKIAC Regulations allow for flexible international commercial arbitration. They may be customized for ad hoc and institutional arbitration.
The regulations allow one or three arbitrators, depending on the case's complexity and the parties' choices. Subject to regulations, the tribunal may define its process.
The guidelines address interim measures, discovery, secrecy, expert witnesses, and fees. Arbitral awards and dispute resolution are also covered.
HKIAC's arbitral panel
 
HKIAC arbitral courts have one or three independent, unbiased arbitrators. Arbitration parties must agree on arbitrator numbers. HKIAC will select one arbitrator if the parties cannot agree on the number. All HKIAC arbitrators must be qualified.
HKIAC arbitral panel composition is crucial to justice and independence. The tribunal's members must be independent, unbiased, and HKIAC-qualified arbitrators. HKIAC will select one arbitrator if the parties cannot agree on the number.
HKIAC's Numerous International Commercial Arbitration Successes
 
HKIAC has arbitrated several international business conflicts successfully. The organization's significant cases include:
1. In 2015, HKIAC arbitrated a Hong Kong-US goods sale dispute. The Hong Kong corporation was awarded US$1.2 million.
2. In 2016, HKIAC resolved a joint venture dispute between a Chinese and Australian corporation. Chinese corporation received A$5 million in damages.
3. In 2017, HKIAC arbitrated a Singaporean-British share sale dispute. Singaporean corporation received GBP£3 million in damages.
HKIAC's impartiality and independence make it a popular arbitral tribunal. HKIAC is renowned by the legal and business communities for its expertise in complicated international commercial disputes.