Credit Dispute Arbitration-World Credit Organization

6.11 Credit Dispute Arbitration

On June 19, 2005, the World Credit Organization (WCO) issued the "ICE8000 International Credit Standard System International Credit Dispute Arbitration Standard" (https: //www.ice8000.org/acnhwgc/33.htm), at the same time established the International Credit Dispute Arbitration Commission, headquartered in Delaware, the United States, adding a new member to the family of international arbitration, it will be based on justice authority, it will develop with justice.

6.11.1 Features of ICE8000 Arbitration:

1. The parties present evidence in good faith. During the arbitration process, the parties should provide evidence in good faith, otherwise, no matter when it is proved that the party has not provided evidence in good faith, the party will bear the responsibility according to the ICE8000 standard.

Second, the execution of the arbitration result is guaranteed by the credit system. The party that fails to implement the arbitration result will be liable in accordance with the ICE8000 standard. (Another note, the parties may apply to the court for enforcement according to international treaties. There are three international conventions on the recognition and enforcement of foreign arbitral awards: ①The 1923 Geneva Arbitration Clause Protocol concluded in 1923; ②The "Regarding the Enforcement of Foreign Arbitral Awards" concluded in 1927 ③Convention on the Recognition and Enforcement of Foreign Arbitral Awards concluded in New York in 1958, referred to as the New York Convention. my country formally acceded to the New York Convention on December 2, 1986, but there are two reservations. Second, it is only applicable to disputes arising from commercial legal relations.)

Third, be fair and honest. If the arbitrator shows partiality or accepts bribes, he will be held accountable according to the ICE8000 standard.

Fourth, the parties have the obligation to avoid intensifying conflicts. In order to avoid intensifying conflicts, during the arbitration process, neither party shall initiate litigation, arbitration, administrative reporting and other procedures, and shall not complain to newspapers, the Internet and other media, or make any other form of complaint or exposure. Credit punishment measures that have taken effect before the initiation of the arbitration procedure shall be temporarily suspended.

6.11.2 Composition of the Arbitral Tribunal

1. Selection of arbitrators.

1. For cases not exceeding USD 500,000, both parties shall jointly select a sole arbitrator from the panel of arbitrators within 15 days after the respondent receives the arbitration notice. If both parties fail to make a joint selection within the time limit, the chairman of the Arbitration Commission shall immediately designate a sole arbitrator to set up an arbitral tribunal to hear the case.

2. For cases exceeding USD 500,000, both parties shall select one arbitrator and jointly select a third arbitrator from the panel of arbitrators of the Arbitration Commission within 15 days from the date of receipt of the arbitration notice. If the parties fail to select the relevant arbitrator within the time limit, the chairman of the Arbitration Commission shall appoint the arbitrator.

Second, the challenge of the arbitrator.

1. If the selected or appointed arbitrator has an interest in the case, he or she should voluntarily disclose it and apply for disqualification, otherwise, the arbitrator will be disqualified.

2. When a party has legitimate doubts about the impartiality and independence of the selected or appointed arbitrator, it may submit a written request to the Arbitration Commission for the challenge of the arbitrator, but shall state the request for challenge The specific facts and reasons on which it is based, and proofs.

3. The challenge of the arbitrator should be submitted in writing before the first hearing; It shall be submitted in writing within two working days after the reason.

6.11.3 Whether to open the trial and the obligation of confidentiality of the parties.

Arbitration is based on the principle of closed hearings, and only when both parties jointly apply for an open hearing can the hearing be held open.

For cases that are heard in private, the parties and their arbitration representatives, witnesses, arbitrators, experts consulted by the arbitration tribunal and appointed appraisers, relevant personnel of the arbitration committee and other relevant personnel shall not disclose the substance and details of the case to the outside world. The status of the procedure.

Cases heard in private, materials such as requests and statements submitted by the parties during the arbitration procedure, and the "Arbitration Letter" issued by the arbitral tribunal are top-secret materials and are only for the parties (or their authorized units, Individuals), the World Credit Organization (WCO), and ICE8000 credit institutions, and the reviewer should declare a confidentiality commitment with the additional clauses of the Oath of Conscience and the CS Clause. However, if a party fails to perform the effective "Arbitration Letter" or has dishonest behavior during the arbitration process, the other party has the right to disclose all or part of the above-mentioned relevant information in the credit penalty procedure or related legal procedures.

6.11.4 Making of Decision.

1. Basis for the decision

The arbitral tribunal shall follow the principles of fairness and reasonableness, and uphold justice and Conscience, to rule independently and impartially.

2. Voting method of the arbitral tribunal

Arbitral tribunal composed of three arbitrators, voting by majority principle.

6.11.5 Scope of ICE8000 International Credit Dispute Arbitration

The Arbitration Commission accepts the case according to the arbitration agreement reached by the parties before or after the dispute (submitting the dispute to the Arbitration Commission for arbitration) and the written application of one party.

Arbitration agreement refers to the arbitration clause stipulated in the contract by the parties, or a written agreement to submit to arbitration reached in other forms.

In the relevant standards of the ICE8000 international credit standard system, if the arbitration clause has been agreed by default, the parties do not need to sign or submit an arbitration agreement separately. However, in this case, the respondent has the right to exclude the validity of the arbitration clause in writing within 7 days after receiving the arbitration notice. The arbitral tribunal shall immediately terminate the arbitration procedure on the date of receipt of the notice to exclude the application of the arbitration clause. If the respondent fails to exclude the validity of the arbitration clause as stated above, the arbitration clause shall always be valid.

It is recommended that the parties agree on an arbitration clause in the following form: "Any dispute arising from or related to this contract shall be submitted to the World Credit Organization (WCO) International Credit Dispute Arbitration Commission, which shall arbitrate in accordance with the application The currently effective ICE8000 International Credit Standard System International Credit Dispute Arbitration Standard conducts arbitration. The arbitration award is final and binding on both parties.”

6.11.6 Qualifications of arbitrators

1. Qualifications of arbitrators, including:

(1) good conduct;

(2) With legal knowledge and corresponding ability, meeting one of the following conditions is deemed to meet this requirement:

A. Those who have worked in arbitration for 8 years;

B. Those who have worked as lawyers for at least 8 years;

C. Those who have served as a court judge for 8 years;

D. A professor or associate professor with a doctorate degree in law or engaged in legal research or teaching;

E. Have legal knowledge, engage in professional work such as economics and trade, and have recognized rich knowledge;

F. Those who have obtained the qualification of International Certified Credit Accountant [ICCA] and have more than three years of practicing experience.

2. After taking office, the arbitrator shall obtain the international credit practice qualification within three months, complete the practice registration, and obtain the individual member status of the World Credit Organization (WCO). Otherwise, it will be deemed as resignation automatically. If an arbitrator fails to take the continuing study examination and practice registration during the appointment period, he shall be deemed to have resigned automatically.

6.11.7 Guarantee of arbitrators' independence

1. The term of the arbitrator is one year, unlimited automatic re-election, no serious dereliction of duty, integrity or misconduct, and no dismissal after being heard by the International Court of Ethics.

2. Arbitrators, World Credit Organization (WCO) directors, supervisors, trial committee members, presidents, vice presidents and senior executives of the executive committee have the right to nominate arbitrators. People from all walks of life have the right to recommend arbitrators. The appointment of arbitrators shall be voted on by the Arbitration Commission on the principle of majority.

3. Nine members are directly elected by all the arbitrators, and the nine members form the Arbitration Committee, and each term of office is three years. The term of the members who are elected midway is the remainder of the current term of the Arbitration Committee.

The arbitration committee votes according to the principle of majority, and its duties are as follows:

(1) Deciding on the appointment and dismissal of arbitrators;

(2) Deciding and organizing the implementation of the internal management affairs and diplomatic affairs of the Arbitration Commission;

(3) Provide support for arbitrators to handle cases.

Four or six (including the original number) or more arbitration committee members have the right to hold an arbitration committee meeting, and if five (including the original number) or more arbitration committee members support it, it will be voted through. If the director did not attend the meeting and did not designate the moderator of the meeting, the deputy director or participating committee members could elect a committee member to preside over the meeting.

5. The arbitrators and the arbitral tribunal shall handle cases on behalf of the Arbitration Commission in accordance with the principle of independence. Arbitration committees, arbitration committees, directors, deputy directors and other organizations and individuals have no right to interfere with the independent case handling of arbitrators and arbitral tribunals.

The above content is excerpted from "Introduction to ICE8000 Credit Knowledge" (written by Fang Bangjian, free to use, but please indicate the source)