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What is arbitration?

Time : 2020-04-10 18:04:54      Author :      Views:5479

    Arbitration, one of the important means for resolving civil and commercial disputes in modern society, refers to a method for resolving a dispute by, according to an agreement voluntarily reached by the parties to the dispute before or after the dispute arises, submitting the dispute to a non-judicial third party, who will make an award neutrally, which will be legally binding upon both parties. Although arbitration is not a type of national adjudication, an arbitral award has the same effect as a final judgment of a court.

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