The International Arbitration Agreement is a crucial document for businesses engaging in cross-border transactions who wish to establish a clear, neutral, and efficient dispute resolution mechanism. This agreement, governed by Hong Kong law, leverages Hong Kong's reputation as a leading arbitration center in Asia-Pacific and its pro-arbitration legal framework. The document typically specifies HKIAC as the administering institution and incorporates provisions from the Hong Kong Arbitration Ordinance (Cap. 609). It is particularly valuable for parties from different jurisdictions who seek a neutral forum with strong enforcement mechanisms under the New York Convention. The agreement should be implemented at the outset of a commercial relationship, ideally incorporated into the main commercial contract or executed as a standalone agreement.
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1. Parties: Identification of all parties entering into the arbitration agreement
2. Background: Context of the agreement and relationship between the parties
3. Definitions: Key terms used throughout the agreement
4. Agreement to Arbitrate: Core agreement to submit disputes to arbitration
5. Scope of Arbitration: Types of disputes covered by the arbitration agreement
6. Arbitration Rules and Institution: Designation of applicable arbitration rules and administering institution (e.g., HKIAC)
7. Seat of Arbitration: Specification of Hong Kong as the seat of arbitration
8. Number and Appointment of Arbitrators: Process for selecting arbitrators and size of tribunal
9. Language of Arbitration: Specification of the language(s) to be used in proceedings
10. Governing Law: Specification of Hong Kong law as governing law
11. Confidentiality: Obligations regarding confidentiality of proceedings
12. Costs: Allocation of arbitration costs and legal fees
13. Final and Binding Nature: Confirmation that the award will be final and binding
1. Multi-Party Provisions: Procedures for arbitration involving multiple parties
2. Interim Measures: Provisions for emergency relief and interim measures
3. Expert Determination: Provisions for technical matters to be referred to expert determination
4. Mediation-Arbitration: Optional step of mediation before proceeding to arbitration
5. Document Production: Specific rules for document disclosure and production
6. Time Limits: Specific deadlines for various stages of the arbitration
7. Appeals: Any agreed procedures for appeals of arbitral awards
8. Split Clauses: Provisions giving one or both parties option to choose litigation
1. Schedule 1: HKIAC Arbitration Rules: Copy or reference to the current HKIAC Administered Arbitration Rules
2. Schedule 2: Model Notice of Arbitration: Template for initiating arbitration proceedings
3. Schedule 3: Fee Schedule: Schedule of administrative fees and arbitrator fees
4. Appendix A: Defined Terms: Extended definitions of key terms used in the agreement
5. Appendix B: Model Arbitrator Declaration: Standard form for arbitrator declarations of independence and impartiality
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