Enforcing Domestic PRC Arbitration Awards against Chinese Manufacturing Entities
Enforce domestic PRC arbitral awards against manufacturers by securing pre-award bank freezes via property preservation insurance and piercing corporate veils.
Zong-Dui-Zong Electronic Search System
Meaning
The integrated digital network used by the people courts connects the judiciary directly with the databases of banks, registries, and other government agencies for the purpose of locating debtor assets. Known as the zong-dui-zong electronic search system, this platform allows judges to conduct real time inquiries into the financial holdings of judgment debtors across the entire country. It significantly speeds up the enforcement process by eliminating the need for physical visits to multiple institutions.
Network Coverage
The system provides access to information from the central bank, commercial lenders, the Ministry of Public Security, and the Ministry of Natural Resources. Through the zong-dui-zong electronic search system, court officials can identify bank accounts, vehicle ownership, real estate titles, and equity investments. This comprehensive view of a debtor wealth makes it much harder to hide assets during litigation.
Execution Speed
Once assets are identified, the system often allows for the electronic freezing or seizure of those assets with a few keystrokes. The efficiency of the zong-dui-zong electronic search system has reduced the time required to settle enforcement cases from months to days in many instances. This technology is a key component of the modernization of the Chinese legal system.
Rights of Creditors
Increased transparency in the asset discovery phase improves the recovery rates for creditors. Because the zong-dui-zong electronic search system operates on a national level, it overcomes the barriers created by regional administrative boundaries.