LIMA, Peru, March 19, 2013 /PRNewswire/ — With growing trade between Latin America and China, it’s essential to include an effective dispute resolution provision in commercial agreements, according to Xingjian “Jeff” Zhao, Associate Attorney, Diaz Reus & Targ, LLP, Shanghai Representative Office.
“There are several choices in arbitration wording, as well as venues,” said Zhao at a Feb. 26, 2013 conference in Lima, Peru, organized by the Hong Kong International Arbitration Centre (HKIAC). “When crafting an arbitration clause, it’s important to be specific. Under mainland China‘s law, the clause must mention the correct and complete name and place of the arbitration commission, as well as the specific arbitration rules to be applied.”
Zhao also noted that arrangements between Hong Kong and mainland China allow for the reciprocal enforcement of arbitration awards made in either jurisdiction. “The Hong Kong judiciary recently adopted civil justice reforms, increasing the use of alternative forms of dispute resolution, including arbitration,” he said.
Zhao spoke at the conference on “Risks and Rewards of Doing Business in Asia: Resolving Disputes Effectively.” Other speakers included Chiann Bao, Secretary General, HKIAC, and Fernando Cantuarias Salaverry, Dean of Universidad del Pacífico Law School.
Bao noted that with its long “East meets West” history and special status, Hong Kong has also emerged as a favorite site for the resolution of Chinese-foreign business disputes. Founded in 1985, the HKIAC serves as a regional and international hub for arbitration and supports the development, promotion and implementation of alternative dispute resolution within Hong Kong and abroad.
From Diaz Reus’ representative office in Shanghai, Zhao focuses his practice on appellate advocacy and international dispute resolution, including complex commercial litigation and arbitration. He has practiced in both the U.S. and China and advises China‘s largest consumer electronics and home appliances company on cross-border transactional matters in Latin America.
For more information, please contact Xingjian “Jeff” Zhao at 1-305-375-9220, or xzhao@diazreus.com.
