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ICC and CIETAC Arbitration Practice Comparison — Case Study Note 1
ICC and CIETAC Arbitration Practice Comparison — Case Study Note 1
One of the most important negotiated points by parties in contract negotiations is the dispute resolution clause. If parties agree on arbitration, they often negotiate which arbitration institution or arbitration rules will apply in resolving potential disputes.
Over the past ten years, there has been an increase in various activities by arbitration institutions around the world to compete for influence in international dispute resolution. Undoubtedly, each arbitration institution has its own characteristics and parties will always have their own preferences. However, some have posited that there is a general trend of convergence among different arbitration institutions in terms of practices and rules. If true, such a convergence would hopefully make the selection of arbitration institutions and arbitration rules less of a critical and contested issue for parties in contracts negotiations.
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