|
CIETAC Financial Disputes Arbitration Rules is a "customized" proceeding rules for financial disputes. CIETAC had set the special Panel of Arbitrators in Financial Industry. As specified by the Financial Disputes Arbitration Rules, the parities may appoint arbitrators from the Panel of Arbitrators in Financial Industry of CIETAC, or from such Panel of Arbitrators as may be designated by CIETAC; Where the appointment of an arbitrator is to be made by the chairman of CIETAC, the chairman may, unless otherwise agreed by the parties, appoint such arbitrator from the Panel of Arbitrators in Financial Industry or from other Panel of Arbitrators of CIETAC. Therefore, both the Panel of Arbitrators in Financial Industry and the common Panel of Arbitrators are adopted by CIETAC. Whereas, a unified Panel of Arbitrators will be adopted when the arbitrators of the CIETAC are re-appointed; no Panel of Arbitrators will be set by industries, and the Panel of Arbitrators in Financial Industry will cease to exist; so CIETAC revised articles of the Financial Disputes Arbitration Rules relative to the application of the Panel of Arbitrators.
This revision is made in co-ordination with the change of the Panel of Arbitrators. The revised Financial Disputes Arbitration Rules will be implemented since May 1st, 2008.
|
