>Press Releases Home > Publications and press releases > Press Releases Hong Kong - The Arbitration Capital of Asia In the past, the concept of international commercial arbitration as a method of resolving disputes was relatively simple. If two parties were in disagreement over the quality or delivery of a shipment of goods, they would turn to a third person whom they both trusted for an impartial and independent decision. Arbitration has since developed over the years. Nevertheless the essential elements have remained unchanged. From a historical point of view there has been a long tradition of using arbitration to resolve shipping disputes. It is well recognised that the informal and less litigious nature of arbitration has the result that contract partners are more likely to keep their business relationship during and after the dispute resolution process. Hong Kong has long been the international maritime capital of Asia. Not only is its excellent location supported by world-class communications, transport and financial services, but coupled with an enormous pool of experienced professionals in shipping affairs, Hong Kong is the ideal place for settling arbitration disputes. The Hong Kong International Arbitration Centre (HKIAC) was established in 1985 by a consortium of leading businessmen and professionals. HKIAC has since developed to become the focus for Asian dispute resolution, offering a free information service together with a wide range of literature relating to arbitration, and last year oversaw 257 cases. With the growing popularity of using arbitration to resolve international disputes, HKIAC has adopted two new procedures to assist parties with their maritime related difference. One relates to 'Documents Only' disputes while the other for 'Small Claims'; the latter is a procedure more suitable for use in arbitration where neither the claim nor counterclaim exceeds the sum of US$50,000. With this in mind Hong Kong, otherwise known as "The City of Life", is uniquely placed to provide dispute resolution services in maritime matters. Its empathy with traditional mediation skills and blending the best service providers from the East and West have turned Hong Kong into the prime centre in Asia for all arbitration matters. For further information relating to dispute resolution in Hong Kong, please contact the HKIAC at 38/F, Two Exchange Square, 8 Connaught Place, Hong Kong. Alternatively call Tel: (852) 2525 2381 Fax: (852) 2524 2171 E-mail: adr@hkiac.org or visit the HKIAC web site at: ttp://www.hkiac.org. Saturday, 24 June 2000
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