In the post-COVID yet geopolitically tensed era, it is crucial to explore new avenues to boost economic growth and maintain jobs. However, a study conducted by a committee of the Asia-Pacific Economic Cooperation (APEC) has identified that large enterprises, which represent only 3% of all businesses, gets the lion-share of nearly 65% of all export trade. This raises the question of why micro, small and medium enterprises (MSMEs) comprising 97% of all companies and together employing over 50% of the labour force are not able to get a bigger share of the pie. To understand this conundrum and search for solutions, Nick Chan, MH, JP, Director of AALCO Hong Kong Regional Arbitration Centre sought guidance from Tsinghua University Professor Teresa Cheng S.C., a leading arbitrator, and our former Secretary for Justice at a fireside chat.
A fair, sustainable, and mutually beneficial outcome for all parties involved can be ensured, and the future is secured if parties stay alert when negotiating “midnight clauses” and write in a suitable dispute resolution clause like that provided by the AALCO Hong Kong Regional Arbitration Centre.
Model Arbitration Clause
