Enforcement of Foreign Arbitral Awards in China
Enforcement of Foreign Arbitral Awards in China

Can Default Interest Awarded by the Foreign Arbitral Tribunal Be Enforced in China?

Enforcement of default interest awards from foreign arbitral tribunals in China is possible if the arbitration rules give the tribunal discretion to award default interest, and a recent case demonstrates that Chinese courts will support such claims even in the absence of a specific contractual clause on the payment of default interest.

SPC Issues New Policy on Recognition and Enforcement of Foreign Arbitral Awards

China’s Supreme People’s Court elaborated on how Chinese courts apply the New York Convention when handling cases involving the recognition and enforcement of foreign arbitral awards, in a conference summary issued in December 2021.

Enforcing Arbitral Awards in China While Arbitration in Another Country/Region

Can I initiate arbitration proceedings against Chinese companies in my country and then have the awards enforced in China? You probably don’t want to go to faraway China to sue a Chinese company, and you don’t want to agree in the contract to submit the dispute to an arbitration institution that you don’t know about.

Time and Expenses – Recognition and Enforcement of Foreign Arbitral Awards in China

For the recognition or enforcement of foreign arbitral awards in China, the average length of proceedings is 596 days, the court costs are no more than 1.35% of the amount in controversy or 500 CNY, and the attorney’s fees are, on average, 7.6% of the amount in controversy.