Arbitrator Salon “Interest Problems in International Commercial Arbitrations” Held Successfully

    On the afternoon of December 25^th, 2008, the 11^th Arbitrator Salon (the 48^th since founding) was held in BAC’s International Meeting. The theme of this Salon was “Interest Problems in International Commercial Arbitrations” and Professor Lu Song gave a lecture in this Salon. As an arbitrator of BAC, Mr. Lu Song is also the Director of International Law Institute and the Dean of International Law Department in Foreign Affairs University presently. Hosted by Mr. Liu Huishan, an arbitration of BAC, the professor of Foreign Affairs University and the consultant of International Private Law Association of China, the Salon attracted nearly 100 participants including lawyers from some lawyer films, relevant leaders from some big enterprises and persons responsible for legal affairs, graduate students from some universities, etc.

    Starting from cases, Professor Lu Song pointed out that the interest was an important issue that should be judged by arbitrator in the international goods trade. Aiming at the determination of interest in the international commercial arbitration, and based on “United Nations Convention on Contracts for the International Sale of Goods” issued by UN in 1980, Professor Lu put forward some principles and rules for the determination of the interest that should be regarded as references to theoretical study and practical operation in international commercial arbitration. Professor Lu also deeply and explicitly interpreted the relations and the differences between interest and compensation for damage, interest and penalty as well as interest and other terms, the basic elements in interest calculation, and other important problems. At the phase of questioning and free discussion, Professor Lu made detailed replies on a series of theoretical and practical questions brought out by participants.

    At the final comment, Professor Liu Huishan pointed out that the speech of Professor Lu Song involved many familiar but very important problems in the international commercial arbitration; such salon activities showed that BAC had made full preparation for gearing with international practice.

     (Zhang Jiechao)