China International Economic and Trade Arbitration Commission (hereinafter referred to as CIETAC) amended its current Arbitration Rules (2000). The New Arbitration Rules (2005) is composed of six chapters, seventy-one articles. The New Rules made some great improvements in many aspects. For example, according to the New Rules, the parties will be free to appoint qualified individuals of any nationality as arbitrators from outside of the CIETAC’s Panel of Arbitrators if the parties have such agreement; and the arbitral tribunal has more powers to handle the arbitral proceedings such as adopting an inquisitorial or adversarial approach, allowing cross-examination of witnesses and holding pre-hearing meetings, etc. The New Rules will come into force as from May 1st, 2005.
|
