Interested Party’s Petition for Preservation of Property in International Arbitration in China

in accordance with the applicable law of the PRC, an interested party in international arbitration is entitled to file a petition for preservation of property during the process of arbitration proceedings. The following applicable provisions are cited for reference: 

In case of an emergency where the lawful rights and interests of an interested party would suffer irreparable damage in the absence of a petition for an order for preservation, the interested party may file a petition with the people's court in the jurisdiction where the property to be preserved or the domicile of the party against whom the petition is filed is located or the people's court of competent jurisdiction over the case before filing a lawsuit or referring to arbitration. Such an interested party is also required to provide a security, failing which the petition will be rejected or dismissed.

And according to the applicable provisions of the Civil Procedure Law of the People's Republic of China, a petition for preservation of property may be submitted to the arbitration commission for referral to or directly submitted to the court of competent jurisdiction in arbitration cases. In international arbitration, such a court of competent jurisdiction refers to the intermediate court of the place where the property is located or the place where the evidence is located in the case of request for preservation of evidence.