What is Mandatory Binding Arbitration?

Arbitration is a legal term that refers to a method of settling a dispute by an agreement between the parties to a (recognized) third party who judges and decides on the merits of the dispute. Arbitration is different from litigation and trial. Arbitration requires both parties to voluntarily as well as compulsory mediation. It is a special type of mediation, which is a voluntary arbitration and is different from compulsory arbitration such as litigation.

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Arbitration is a legal term that refers to a type of dispute settlement in which the dispute is submitted to a (recognized) third party by an agreement between the parties, and the third party judges and decides on the merits of the dispute

Commercial arbitration refers to the

FACT-FINDING: The process of letting a neutral third party publicly apply pressure to the disputed parties to resolve the dispute by evaluating and issuing reports or supporting documents about the facts.

Final OFFER SELECTION: The neutral party chooses from the parties to the dispute

The scope of arbitration refers to which disputes can be settled by arbitration and which cannot be settled by arbitration. This is what we usually call "arbitrability of disputes".

Article 2 of the "Arbitration Law" states: "Contract disputes and other property rights disputes between citizens, legal persons and other organizations of equal subjects can be arbitrated." Three principles are specified here: First, the parties to a dispute must be

Refers to the statutory right holder's request

Domestic and foreign arbitration

Arbitration can be divided into domestic arbitration and foreign-related arbitration based on whether the dispute handled has foreign-related factors. The former is arbitration between the parties in the country to resolve domestic civil and commercial disputes without foreign factors; the latter is arbitration to handle civil and commercial affairs disputes involving foreign or foreign jurisdictions.

Institutional and ad hoc arbitration

Arbitration can be divided into ad hoc arbitration and institutional arbitration according to whether there is a permanent specialized arbitration institution. Ad hoc arbitration

Establish what

In the investment process, arbitration is faster and more economical than legal litigation for resolving investor disputes. Unlike the judge's judgment and jury system, the arbitration system uses corrections and compensation when determining violations. After the arbitration is over, the arbitrator's ruling is final, and if either party is dissatisfied, no regret or lawsuit can be filed. Only very few things can change.

After entering the 20th century, countries have generally adopted arbitration as a way to resolve international trade disputes. Hosted by the League of Nations in 1923,

The complainant submitted

Place of arbitration

It is a key point for buyers and sellers when negotiating arbitration. This is mainly because the place of arbitration is closely related to the procedural law applicable to the arbitration and the substantive law applicable to the contract. China generally adopts one of the following three rules regarding the place of arbitration in a contract, depending on the object and circumstances.

Strive to provide for arbitration in China.

Arbitration may be provided in the country where the defendant is located.

Provide for arbitration in a third party country agreed by both parties.

Selection of Arbitration Institution

International arbitration may be conducted by the parties in a permanent arbitration institution as stipulated in the arbitration agreement, or the parties may jointly designate an arbitrator to form an ad hoc arbitration tribunal. Which country (region) the arbitration institution selected by the parties to hear the dispute shall specify in the contract.