Follows the principles of adversarialism Can be as formal as litigation

Follows the principles of adversarialism can be as

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Follows the principles of adversarialism - Can be as formal as litigation, entailing essential characteristic of civil litigation procedures (eg pleadings, discovery) - Parties may not disclose any information about arbitration proceedings or awards reached through them-> confidential Worldwide recognition and enforcement of Arbitral Award made in HK - HK became party to the NY Convention (the Convention on the Recognition and Enforcement of Arbitral Awards 1958) - This allow arbitral awards made in HK to be recognized and enforced in over 140 jurisdiction and vice versa Adv (Ideally) - Speed (normally faster, no lengthy argument/ oral submission) - Economy(less complex procedure-> less cost) - Privacy (litigation open to public while arbitration is confidential) - Informality (less formal since less procedure) - Flexibility (party can agree to appoint certain arbitrator and choose venue/ time eg even evening and weekend) - experience (arbitrator are experienced in dealing with disputes) - Arbitrator specialism( with expert knowledge) vs civil court -arbitrator give reasoned decision or arbitral award which is enforceable in court -judgement of arbitral tribunal=award -award is final and binding, can only be challenged in limited circumstances
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judge( generalist) Disadv - Complex arbitration tends to feature full pleadings and discovery which is not faster or more informal than cilit - Parties have little control over arbitral award - The fees may even exceed litigation as parties have to pay, apart from lawyers’ fees, arbitrators and hire venues for hearings The New Arbitration Ordinance - Objective: “facilitate the fair and speedy resolution of disputes by arbitration without unnecessary expense” - Align with UNCITRAL Model Law of UN commission, which provides for a unitary arbitral regime for domestic and international arbitration - Duty of arbitral tribunal: 1) Be independent, Act fairly and impartially 2) Avoid unnecessary delay or expense> fair means for resolving dispute - “an arbitrator will be challenged only if circumstances exist that give rise to justifiable doubts as to his impartiality or independence , or if he does not possess qualification agreed to by parties” - Experienced lawyers and retired judges are generally appointed as an arbitrator - It empowers arbitral tribunal to: o Direct discovery of document o Direct evidence to be given by written affidavit o Examine witness and parties on oath or affirmation o Direct the attendance of witnesses to give evidence or produce documents or other evidence - If parties have consented for HK law to be applicable to the arbitration, the tribunal will be bound by the precedents of the superior courts of HK and adhere to relevant legislation - An arbitral tribunal may award any remedy or relief that could be ordered by the court in civil proceedings - An award is enforceable in the same manner as a judgement of the court that has the same effect, but only with the leave of the court - Legitimate grounds for not enforcing awards are limited: o
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