Favorable Results Achieved after Arbitration in Sales Contract Breach
In September 2008, a Hong Kong company signed a sales contract with a Tianjin company to buy chemical raw materials. The next month Hong Kong company cancelled the order and did not pay for the goods due to changes in the market quotations. In December 2009, Tianjin Company applied to China International Economic and Trade Arbitration Commission for arbitration, demanding that Hong Kong Company to compensate more than 940,000 RMB for costs that it had incurred as a result of that breach.
Hong Kong company entrusted Lawyer Xinli Li to respond to the lawsuit. On behalf of the Hong Kong Company, lawyers made a strong plea to the arbitral tribunal that the Tianjin Company had not suffered its alleged losses. In June 2010, the arbitral tribunal awarded Hong Kong Company more than 170,000 yuan in compensation to Tianjin Company.
Reference: No. G20100005, CIETAC