FTZ Financial Arbitration Centre
- Arbitration Centre
- Experts Committee
- Professional Facilities
FTZ Financial Arbitration Centre
In order to create an internationalized, market-oriented, financially open and legalized business environment and to promot the mechanism of international arbitration and commercial mediation in the FTZ, Shenzhen Court of International Arbitration (hereinafter referred to as "SCIA") established the South China International Economic and Trade Arbitration Commission FTZ Financial Arbitration Centre (hereinafter referred to as the "FTZ Financial Arbitration Centre") in cooperation with the Financial Affairs Office of the Guangdong Provincial People's Government (hereinafter referred to as "Guangdong FAO") and the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen Municipality (hereinafter referred to as "the Authority of Qianhai").
I. Purpose and Functions of the FTZ Financial Arbitration Centre
The FTZ Financial Arbitration Centre makes full use of the opportunities in the FTZ concerning a more open and innovative approach to financial and capital markets by highlighting and strengthening the characteristics of any required arbitration services between financial and capital markets. It is committed to providing quality, efficient, and professional arbitration-based alternative dispute resolution services to Chinese and foreign parties in financial and capital markets.
II. Nature of the FTZ Financial Arbitration Centre
The FTZ Financial Arbitration Centre was jointly set up by the Guangdong FAO, the Authority of Qianhai and SCIA in the FTZ. It has acted as a platform for resolving disputes in financial and capital markets. SCIA has taken the responsibility for its daily professional operation under the guidance of the Guangdong FAO and under the coordination of the Authority of Qianhai in order to make full use of SCIA's international credibility and rich arbitration experience in financial and capital markets over the past 30 years.
III. The Experts Committee of the FTZ Financial Arbitration Centre
The FTZ Financial Arbitration Centre has an experts committee for its strategic decision-making, business planning, and cooperation coordination. Prof. Song Hai, a member to the Standing Committee of the CPPCC, deputy secretary-general of the CPPCC, vice-president of China Democratic National Construction Association and former vice-governor of Guangdong Province, acts as the director of the experts committee. This committee consists of over 10 domestic as well as foreign financial and legal professionals, including legal executives and well-known scholars from the Supreme Court, the CSRC, the Shenzhen Stock Exchange, and famous financial groups.
IV. Major Business Innovations of the FTZ Financial Arbitration Centre
SCIA highlights its professionalism and specialization in formulating the SCIA Arbitration Rules for Financial Loan Disputes, which comprises special provisions for such procedural matters as arbitration fees and arbitration duration.
Model Arbitration Clauses
"Any dispute arising from or in connection with the Contract shall be submitted to Shenzhen Court of International Arbitration (SCIA) for arbitration in accordance with SCIA Arbitration Rules for Financial Loan Disputes in effect at the time of such submission."
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