China International Economic and Trade Arbitration Commission, Financial Disputes Arbitration Rules

Adopted: April 4 2003
Effective: May 8 2003
Interpreting authority: China International Economic and Trade Arbitration Commission
Applicability: The Rules apply when the parties concerned agree to apply the Rules to their financial disputes handled by the China International Economic and Trade Arbitration Commission (Article 3). When there is a discrepancy between the Rules and the China International Economic and Trade Arbitration Commission, Arbitration Rules, the Rules shall prevail. In the case of matters not covered in the Rules, the China International Economic and Trade Arbitration Commission, Arbitration Rules shall apply (Article 26).

Main contents: The Rules deal with disputes in the monetary, capital, foreign exchange, gold and insurance markets over transactions concerning loans, security, letters of guarantee, negotiable instruments, funds, bonds, etc. The Rules contain provisions on arbitration procedures and judgment. Article 21 stipulates that the tribunal should take into consideration the contract clauses and relevant industrial practices and standards under any circumstances.
Related legislation: China International Economic and Trade Arbitration Commission, Arbitration Rules (2000 Revision), Sep 5 2000, CLP 2001 No.1 p8