Unless the parties have the other agreement, these rules shall apply to any financial dispute accepted by the GZAC. If these rules are failed to administrate, the Arbitration Rule of GZAC shall apply. The GZAC shall make a ruling on objections with regard to whether the dispute between the parties arises from , or is in connection with, a financial transaction, or whether these Rules should be applied to the dispute between the parties.
Where the GZAC finds that a request for arbitration satisfies the requirements for arbitration, it shall notify the parties in writing of its acceptance of the Request for Arbitration within Two days from the date of receipt of the Request. Should the GZAC find that the Request for Arbitration does not satisfy the requirement for arbitration, it shall notify the parties in writing of its rejection of the request for arbitration and the reasons therefor.
Together with the Notice of Arbitration for the acceptance of the Request for Arbitration, the GZAC shall furnish to the Claimant and the Respondent these Rules, the Arbitration Rules of GZAC, the Panel of Arbitrators in Financial Industry and such other Panel of Arbitrators of the GZAC as may be designated.
The parties shall select arbitrators from the Panel of Arbitrators in Financial Industry or other Panel of Arbitrators, within the time period ofrespondence.
An arbitrator appointed by the parties or by the Chairman of the GZAC shall sign a Declaration and disclose to the GZAC in writing any facts or circumstances likely to give rise to justifiable doubts as to his/her impartiality or independence. The GZAC shall communicate the Declaration and/or the disclosure of the arbitrator to the parties, If the arbitrator disclose any facts or circumstances through the GZAC.
Where a time period for producing evidence has been agreed upon by the parties or has been set by the arbitral tribunal, the parties shall produce their evidence to the arbitral tribunal within the specified time period.
Where no such time period for producing evidence is agreed upon by the parties or set by the arbitral tribunal, the parties shall file all written statements and relevant evidence to the GZAC not less than three working days prior to the date of the first oral hearing.
Unless otherwise agreed by the parties or decided by the arbitral tribunal, the arbitral tribunal may refuse to admit any written statement or evidence submitted by any party beyond the time period for producing evidence.
In the event of a hearing, evidence exchanged between the parties prior to the hearing shall be presented for examination during the hearing. Evidence may be used as proof of the facts relied upon without being produced at the hearing if the Arbitral Tribunal affirms during the hearing that the evidence has been exchanged, admitted as authentic and put on record.
The date of the first hearing shall be fixed by the arbitral tribunal and notified to the parties by the GZAC at least three (3) days in advance of the oral hearing date.
Unless otherwise agreed by the parties, the arbitral tribunal shall render an arbitral award within 20 days from the date on which the arbitral tribunal is formed. At the request of the arbitral tribunal, the Chairman of the GZAC may extend the said time period if he considers it truly necessary and the reasons for the extension truly justified.
The arbitration fee of financial arbitration cases, in accordance with the Arbitration Fee Collection Measures of GZAC, shall be charge half of the arbitration fee.
