China’s Supreme People’s Court (SPC) said on Monday that the first International Commercial Court of the SPC closed five cases on September 18 and October 25.
According to a Statement from the SPC, among the five cases, three are to affirm the validity of arbitration agreements. The other two are a product liability dispute and a contract dispute.
Their high efficiency is the significant advantage of international commercial courts, said the SPC.
Parties can directly submit evidence in English without translation. After obtaining the consent of the other parties, the judge can directly cross-examine the evidence, which saves time and cost, said the SPC.
The SPC Inaugurated two International Commercial Courts to provide Belt & Road Countries with legal services in resolving business disputes in June 2018.
The first International Commercial Court was set up in Shenzhen, Guangdong Province. The second was set up in Xi’an, Shaanxi Province.
Both courts have accepted a total of 13 International Commercial Cases since their establishment, according to the SPC. The Judgements and rulings made by the courts are final and legally binding, said the introduction on the website of the courts.