Convinced that such enhanced cooperation requires, among other things, an international legal order that guarantees security and guarantees the exclusive choice of judicial agreements between parties to commercial transactions and regulates the recognition and enforcement of judgments resulting from procedures based on these agreements, the People`s Republic of China must ratify the convention before it becomes a member and is bound by the provisions of the convention. As soon as the People`s Republic of China formally accedes to the Convention, the possibilities for recognition of Chinese judicial decisions will be strengthened at the international level and vice versa. “The court or courts of a contracting state designated in an ECCA have jurisdiction to rule on a dispute to which the Agreement applies, unless the agreement is nullified by the law of that state.” (a) the arrangement is null and void under the state`s law of the elected jurisdiction; (b) a party was unable to conclude the agreement in accordance with state law of the court in the court; (c) the effect of the agreement would lead to a manifest injustice or would be manifestly contrary to the public policy of the state of the court before it; (d) for exceptional reasons beyond the control of the parties, the agreement cannot reasonably be implemented; or (e) the elected court decided not to hear the case. The courts of one Member State are obliged to recognise and enforce a final judgment by the jurisdiction of another Member State, which is appointed by an exclusive judicial decision without verifying its merits. The limited grounds for which an enforcement court may refuse enforcement are spelled out in a comprehensive manner in Article 9 of the Convention. The reasons are generally procedural in nature. In particular, the violation of public order is grounds for refusal. Critics fear that this land will be open to abuse in some states. Norton Rose Fulbright`s 2015 survey surveyed more than 800 business advisors representing companies from 26 countries on issues and concerns.
About 25 per cent of respondents believe that the number of litigations their company will face over the next 12 months will increase. “In the face of the election, almost half of respondents prefer to use arbitration as a means of resolving disputes, with a quarter preference for litigation and about the same proportion: “It depends.” However, under Article 3, point (a), of the Convention, a for agreement, which refers to the courts of a contracting state or one or more specific courts of a contracting state, is considered exclusive, unless the parties have expressly provided otherwise.