Why HKAS Rules?
Many people have encountered stressful, time-wasting and expensive litigation and traditional arbitration, but the costs and efforts are disproportionate to the result and litigations and traditional arbitration are unaffordable and far too complicated for most members of the general public. Due to the high litigation or arbitration costs, many have avoided resolving their disputes and asking for justice.
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With the main objective to promote the resolution of disputes by arbitration in a more efficient and cost-effective manner than litigation and traditional arbitration, HKAS has developed the HKAS Rules which govern the conduct of efficient arbitration.
Under the HKAS Rules, the arbitration fees, which include the arbitrator’s fees, are fixed based on the amount in dispute. There is a fixed schedule for arbitration proceedings and the arbitrator generally renders an award within three months from the start of the arbitration proceedings. Hearing are limited to one day and there is a fixed schedule on the day of hearing.