With the development of businesses, enterprises need to sell products or
services to different countries around the world. How do Hong Kong enterprises carry out risk
prevention measures and how are they afforded legal protection when facing different laws and
regulations in different countries?
Many enterprises are familiar with their own local laws, but if they are to work with new countries,
they may face legal risks by failing to understand the laws of other countries. Therefore, more and
more enterprises want to seek a unified legal system that can afford them legal protection when
working with other enterprises in different countries. In this regard, efficient arbitration is one of
the most effective methods.
By including an efficient arbitration clause in contracts, enterprises can benefit from the protection
afforded by their dispute being resolved by efficient arbitration in Hong Kong, and that the award can
be enforced in 157 countries, reducing the risk they face. Enterprises which wish to be afforded legal
protection can add the following efficient arbitration clause to contracts:
"Any dispute or difference arising out of or in connection with this contract shall be referred to and
finally determined by arbitration administrated by the Hong Kong Arbitration Society and in accordance
with the Hong Kong Arbitration Society Rules for the time being in force."