Model Text of Changes to Dispute Resolution Clauses
From：HNAA 2024-08-12
Model Text of Changes to Dispute Resolution Clauses
The parties have voluntarily reached an agreement on arbitration by consensus. Disputes arising from the [contract number] [contract name] signed on [date of signing] shall be resolved through Ad Hoc arbitration:
The seat of arbitration shall be Hainan Free Trade Port, and the HFTP Ad Hoc Arbitration Rules shall apply.
Special agreement:
(1) The appointing authority shall be [ ]
Options: a. Hainan Arbitration Association (HNAA); b. Hainan International Arbitration Court (HIAC); c. Hainan Arbitration Center of China International Economic and Trade Arbitration Commission (CIETAC); d. Hainan Arbitration Center of China Maritime Arbitration Commission (CMAC); e. other arbitration institutions registered in Hainan Province.
(2) The number of arbitrators is [ ]
(3) The language of arbitration is [ ]
(4) The substantive law applicable to the contract is [ ]
(5) Other agreement
(Note: The parties may make special agreement on the above matters. The arbitral award is final and binding on both parties.)
The above agreement replaces the dispute resolution clause in [Article X] of the original contract, and this modified clause shall take effect from the date of signature or seal of both parties.
Signature and/or Seal of Both Parties:
Date:
