An Introduction To Hong Kong Arbitration 2012An Introduction To Hong Kong Arbitration 2012.docx

Hong Kong as an arbitration venueHong Kong is a popular arbitration venue for many reasons, including the following:- § Hong Kongs Arbitration Ordinance, provides a user-friendly, legal framework for arbitrations which, having largely adopted the UNCITRAL Model Law, cements Hong Kong as a leading arbitration venue. § Arbitration awards made in Hong Kong are enforceable in over 140 jurisdictions under the New York Convention and in Mainland China under the Arrangement Concerning Mutual Enforcement of Arbitral Awards between the Mainland and the Hong Kong Special Administrative Region. § Hong Kong is a common law jurisdiction, which preserves the rule of law, administered by an independent judiciary. § Hong Kong Courts are supportive of arbitration, but take a hands off approach. § Hong Kong is conveniently located for Mainland China-related disputes and easily accessible from anywhere in the world. Its highly efficient airport, a 20 minute ride away on the Airport Express, from the Central business district makes it an easy place to travel to and from. § Hong Kong is one of the worlds leading financial centres, with a highly developed transportation network, excellent accommodation and telecommunications. § There are minimal language difficulties, as English and Chinese are both official languages. § There is a huge pool of multi-lingual professionals available to act as arbitrators, although parties are free to choose arbitrators from anywhere in the world. § There are excellent facilities and support services provided by Hong Kong International Arbitration Centre (HKIAC). Hong Kongs New Arbitration Ordinance Arbitrations in Hong Kong are governed by the Arbitration Ordinance (Cap 609) (the Arbitration Ordinance), which came into force on 1 June 2011. It replaced the old Arbitration Ordinance (Cap 341) (the Old Arbitration Ordinance). Under the Old Arbitration Ordinance, there were two distinct arbitration regimes, namely one for domestic arbitrations and the other