Shanghai Court Explores Online Arbitration Property Preservation Mechanism, Freezing 1.23 Million Bank Deposits and Property on the Day of Acceptance | Arbitration | Preservation
The Shanghai Higher People's Court revealed yesterday that the first online arbitration property preservation case in Shanghai has been accepted and completed by the Xuhui Court. The Shanghai International Arbitration Center transmitted the applicant's property preservation application online through the arbitration preservation online filing port of the Shanghai Court Litigation Service Network. After examination, the Xuhui Court froze the respondent's bank deposits as soon as possible.
The applicant of this case is an industrial company in Hebei, which has a dispute with an Internet company in Shanghai due to supply cooperation. According to the arbitration clause agreed in the agreement, the industrial company applied to Shanghai International Arbitration Center for arbitration, and submitted an application for property preservation and related materials. To fully protect the legitimate rights and interests of enterprises and improve the efficiency of arbitration preservation, the Shanghai International Arbitration Center sends materials such as property preservation applications and arbitration case acceptance letters to the court through the arbitration preservation online filing port of the Shanghai Court Litigation Service Network. After receiving the materials, the property preservation working group of the filing court of Xuhui Court conducted an audit as soon as possible and approved the filing in accordance with the law. After the company completed the preservation payment, the court's enforcement bureau quickly verified the property clues provided by the company. On the same day, preservation measures were taken against the respondent's company property, and more than 1.23 million yuan of bank deposits were fully frozen.
Due to its stronger autonomy, confidentiality, and final arbitration, arbitration is more likely to win the favor of the parties involved in commercial, international, and professional transactions. However, for a long time, the application process for arbitration preservation has been cumbersome, with a long circulation cycle and low enforcement efficiency, which have been the pain points of the arbitration system reflected by the parties. To further optimize the business environment, the Shanghai High Court has conducted research and consultations with multiple arbitration institutions such as the Shanghai International Arbitration Center to launch an online arbitration preservation filing port. Arbitration institutions or applicants can complete the entire online operation process from submitting materials, querying, paying fees to property freezing through this port. Applicants can complete property preservation without coming to the court, greatly improving efficiency and facilitating the online information transmission and sharing channels of arbitration preservation applications.
![Shanghai Court Explores Online Arbitration Property Preservation Mechanism, Freezing 1.23 Million Bank Deposits and Property on the Day of Acceptance | Arbitration | Preservation](https://a5qu.com/upload/images/5a39250d73ea9275f40fbc0c8be0d456.jpg)
"In the past, submitting preservation materials by mail was a complicated and lengthy process. Now, electronic preservation application materials can be uploaded through the online filing port, and the handling personnel of the arbitration institution can directly connect with the judge, greatly improving the efficiency of the circulation of preservation materials and facilitating communication between the arbitration institution and the court. For the parties involved, it is also possible to quickly obtain relevant information about the court's property preservation filing, accelerate the procedures for payment or correction of materials, and achieve the effect of preservation as soon as possible," said Ma Yi, Vice President of the Shanghai International Trade Promotion Commission and Deputy Director of the Shanghai International Arbitration Center.