Key Points:
Australian parties who are working with Chinese
investors should consider embracing the arb-med model of dispute
resolution in their agreements as it may indeed foster a better
commercial relationship.
As Australia increases its trade with our neighbouring Asian
countries, we must begin to recognise and embrace the methods of
dispute resolution commonly used by our trade partners. One
stand-out method of dispute resolution that is underutilised in
Australia is the arb-med model, which has been widely used in the
Peoples' Republic of China.
In recent years, amendments incorporating provisions on arb-med
have been made in other Asia Pacific jurisdictions, including Hong
Kong's Arbitration Ordinance, the Singaporean International
Arbitration Act, and the uniform state Commercial Arbitration Acts
in Australia. It is perhaps a sign of what is to come in
Australia's international arbitration practice.
