Forthcoming Seminar(s)

A
 ICC-HK full day Workshop on "Advanced International Trade Finance" conducted by Mr Fung King Tak
   

- 8 October, 2011( Saturday), 9:00 am - 5:00pm
- 6.5 CDCS PDUs granted

- Law Society CPD & RME elective course granted
 

 
  For more information, please click HERE.
   
B
 ICC-HK half day Workshop on "Advanced International Trade Finance" conducted by Mr Fung King Tak
   

- 19 October, 2011(Wednesday), 2:00pm - 6:00pm
  - 3.5 CDCS PDUs granted
 

- Law Society CPD & RME elective course pending for approval

 
  For more information, please click HERE.
   
C
 "The 2012 ICC Rules of Arbitration" - an official launch event of the New ICC Rules of Arbitration
   
  - 10-11 October, 2011 (Monday & Tuesday)
 

- Law Society CPD points pending for approval
   
  For more information, please click HERE.

Forthcoming Event(s)

ICC-HK supports Juris Conferences Third Annual Asian Leading Arbitrators' Symposium on the Conduct of International Arbitration

- 11th Sept, 2008 (Thursday), 9:00 am - 5:30 pm
- visit http://www.jurisconferences.com/arbitration.php?id=15&p=1for program andregistration form.

 

ICC News Flash

ICC Uniform Rules Demand Guarantees

includding Model Forms

ICC Publication No. 758, available March 2010

The Uniform Rules for Demand Guarantees(URDG), first adopted by ICC in 1991, reflect international practice in the use of demand guarantees while at the same time balancing the interests of the different parties and providing safeguards against abuse in the calling of guarantees.

In the years since their adoption, the rules have gained increasingly broad international acceptance, including official recognition and use by bankers, traders, industry associations and international organizations including UNCITRAL and the World Bank.

This revision of the URDG, the first after 18 years, is effective as of 1 July 2010. It contains significant changes practitioners will need to know, including:

  • New articles on "definitions" and "interpretation" to provide greater clarity and precision;
  • The replacement of the phrase "reasonable time" with fixed periods for the examination of demands, the extension of guarantees and the suspension of payments;
  • A provision on force majeure that triggers an extension of a guarantee for thirty calendar days;
  • The introduction of new terms, such as "international standard demand guarantee practice"; and
  • New language to clarify the process for determining whether a party to the guarantee/counter-guarantee is in breach.

More than an update of the existing rules, the revised URDG 758 creates a new set of rules for the twenty-first century, one that is clearer, more precise and more comprehensive than its predecessor. The revision will help secure uniform practice in the use of demand guarantees and bring certainty to international guarantee practice.

Please click here for order form. For enquiry, please feel free to contact Ms. Christy Li at 2973 0006.

ICC International Court of arbitration to open offices in Asia

Hong Kong, 14 March 2008

The International Court of Arbitration of the International Chamber of Commerce and the Secretariat of the ICC Court have decided to locate their new offices in Hong Kong and Singapore.

In recognition of the growing importance of the Asia Pacific region to ICC Dispute Resolution Services and the ICC International Court of Arbitration, ICC announced in September 2007 its intention to establish a branch of the Court's Secretariat in Asia to administer ICC cases in the region.

ICC has now decided on two important initiatives:

  • It will open a branch of the Secretariat of the Court in Hong Kong with a case management team to administer cases in the region under the ICC Rules of Arbitration.
  • It will locate the Director, ICC Arbitration and Amicable Dispute Resolution Asia in Singapore, where it will open a liaison office dedicated to ICC Dispute Resolution Services.

Both initiatives will be implemented in the last quarter of 2008 and should be fully operational by the end of the year.

The Secretary General of the ICC Court, Jason Fry, commented: "We are very excited by these two steps which reflect our conviction that the Asia Pacific region is of significant importance to the future of ICC Dispute Resolution Services. Our desire was to respond to an increasing demand for the provision of high quality services locally. ICC is a truly international organization and as such wishes to ensure its global reach to the international business community."

He added: "We are grateful for the encouragement we have received from the governments of Singapore and Hong Kong to come to the region. Both Singapore and Hong Kong are recognized hubs for international dispute resolution. That fact is reflected in this two pronged approach to the region."

The Chairman of the ICC Court, Pierre Tercier, said: "This important step will be a milestone in the development of ICC Dispute Resolution Services. It will increase our presence in Asia and demonstrate once more the international character of the institution."

ICC Secretary General Guy Sebban said: "We are very pleased to announce this key decision that reflects one of the main conclusions of a strategic survey conducted by ICC in 2007, namely to recognize the growing importance of Asia as one part of the world where ICC should have a greater presence and increased visibility."

  ICC-HK Opinions
       
 

1.
 Consultation Paper on Arrangements for Filling Vacancies of the Legislative Council
   

[English Version]
 
[Chinese Version]
   
2.
 CO Rewrite Consultation Paper - Draft Companies Bill: First Phase
   
Consultation
   
[English Version]
   

3.

Consultation Document on Methods for Selecting the Chief Executive and

   
for Forming the Legislative Council in 2012
   
[English Version]
 
4.
Government Budget 2010/2011
 
[English Version]
 
5.
Public Consultation Paper on the New Radio Television Hong Kong
      [English Version]


 

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