China Council for the Promotion of International Trade/China Chamber of International Commerce decides to revise the Financial Disputes Arbitration Rules of the China International Economic and Trade Arbitration Commission as follows:
Article 6: "The parties may appoint arbitrators from the Panel of Arbitrators provided by CIETAC.
Where the parties have agreed to appoint arbitrators from outside of CIETAC's Panel of Arbitrators, the arbitrators so appointed by the parties or nominated according to the agreement of the parties may act as arbitrator if the appointment is confirmed by the chairman of CIETAC in accordance with the law. Such confirmation shall be made, or not made, without stating the reasons therefore.
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 provided by CIETAC."
Article 11: "Together with the Notice of Arbitration for the acceptance of the Request for Arbitration, the Secretariat of CIETAC shall furnish to the Claimant these Rules, the Arbitration Rules of CIETAC, and the Panel of Arbitrators of CIETAC.
Together with the Notice of Arbitration for the acceptance of the Request for Arbitration, the Secretariat of CIETAC shall furnish to the Respondent a copy of the Claimant's Request for Arbitration and the documents annexed thereto, these Rules, the Arbitration Rules of CIETAC, and the Panel of Arbitrators of CIETAC."
The new Panel of Arbitrators of CIETAC and CMAC has been effective as from May 1st, 2008.
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