出访英伦Episode 22 Arbitration.pptVIP

Episode 22 Arbitration Question: 1 What is arbitration? 2 What’s the difference between the arbitration rules and the substantive law? 3 What’s the means of “the award is final”? Arbitration is a means of setting a dispute between two parties through the medium of a third party who is not partial to either of the parties to the dispute, and whose decision on the dispute is final and binding. That the award is final means neither party shall bring an appeal for revision before a court of law of any other organizations. An arbitral award once made has the force of law. Arbitration: Any dispute, controversy or claim arising out of or relating to this contract, or the breach, termination or invalidity thereof, shall be settled amicably through negotiation. In case no settlement can be reached through negotiation, the case shall then be submitted for arbitration. The location of arbitration shall be in the country of the domicile of the defendant. If in China, the arbitration shall be conducted by the China International Economic and Trade Arbitration Commission of the China Council for the Promotion of International Trade, in accordance with its Rules of Arbitration, if in_________, the arbitration shall be conducted by ________in accordance with its Rules of Arbitration. The arbitral award is final and binding upon both parties. The general arbitration procedures are: 1 Submit dispute to arbitration The application for arbitration should include the following items: name and address of the plaintiff and those of the defendant, statement of facts, claim of the plaintiff and the facts and evidence upon with the claim is based, name of an arbitrator chosen by the plaintiff. When submitting a dispute for arbitration, the plaintiff shall pay a sum of equivalent to 0.5% of the amount of the claim as a deposit for the arbitration fee. 2 Appoint arbitrators Number of arbitrators and qualifications of arbitrators must be considered in appointing arbitrators.