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CIETAC has just announced on this website the French, Korean, Spanish and Portuguese versions of its current Rules.
The current Rules, effective as from May 1, 2005, represent the most significant update of CIETAC Rules in the past twenty years, as they have obviously brought the CIETAC arbitral procedure into compliance with international norms and standards. CIETAC has been receiving positive feedbacks from the legal and business communities after these Rules came into effect.
In order to spread knowledge about and promote understanding of CIETAC arbitration in non-English speaking countries and regions, CIETAC has invited a team of distinguished experts who are both experienced in international commercial arbitration and versed in the relevant languages to undertake the translation work. Among the experts are Mr. Peter Thorp and Mr. Ahmed Baladi of Allen and Overy LLP (French version), Dra. Adriana Noemi Pucci, Redator-Chefe da Revista Brasileira de Arbitragem (Spanish and Portuguese versions) and Mr. Jiang Zhe, senior partner of Jincheng & Tongda Law Firm (Korean versions). CIETAC is extremely grateful to them for the wonderful contribution.
Two more language versions of the Rules, German and Japanese, are under way. It should be noted that the Chinese and English versions of the Rules prevail should there be inconsistencies in other versions.
The announcement of these versions is an important part of CIETAC’s efforts to internationalize its procedure and services and will hopefully boost use of CIETAC arbitration clauses in transactions between Chinese business entities and entities from Europe, Latin America, Africa and two Koreas.
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