|
|
|
| Introduction to China International Commercial Court |
|
| 发布日期：2020-01-07 10:25:52 |
|
|
| |
|
The China International Commercial Courts (CICC) were inaugurated by the Supreme People's Court of China (SPC) to adjudicate international commercial cases in June 2018. The CICC's objective is to try international commercial cases fairly and timely in accordance with the law, protect the lawful rights and interests of the Chinese and foreign parties equally,and create a stable, fair, transparent, and convenient rule of law international business environment. Particularly,The CICC were established to provide Belt and Road countries with legal supports in resolving business disputes.The First International Commercial Court is situated in Shenzhen, Guangdong Province, and the Second International Commercial Court in Xi'an, Shaanxi Province. The Fourth Civil Division of SPC is responsible for coordinating and guiding the two international commercial courts.
The CICC is a permanent adjudication organ established by the SPC to deal with international commercial disputes, and cases tried by the CICC shall be heard by a collegial panel consisting of three or more judges. The CICC practices the "First Instance being Final". The judgments and rulings made by the CICC are final and binding on the parties and with legal effect.
The high efficiency is the significant advantage of international commercial courts, said the SPC. Parties can directly submit evidence in English without translation. After obtaining the consent of the other parties, the judge can directly cross-examine the evidence, which saves time and cost.
The SPC said on Dec. 30,2019 that the first international commercial court closed five cases through Sep. 18 to Oct. 25, 2019. Among the five cases, three are to affirm the validity of arbitration agreements. The other two are a product liability dispute and a contract dispute. The two courts have accepted 13 international commercial cases in total since their establishment, according to the SPC. |
|
|
|
