The Advantages of Arbitration

 

1. The Principle of the Party Autonomy
Arbitration sticks to the principle of “the Party Autonomy”. The parties enjoy the highest degree of autonomy by designing the special arbitration procedures to meet their needs, freely choose the arbitration institution, arbitrators, the seat of arbitration, the applicable laws, the arbitration rules and the arbitration language and so on.

 

2. Awards Rendered by Experts
The arbitral awards are rendered by experts. All the arbitrators who examine the case have excellent legal skills, abundant practice experience and highly professional spirit.

 

3. The Arbitration Award: Final and Binding
The arbitration award shall be final and binding. The award becomes effective once it is rendered, and there is no
appealing or retrial procedure, which shows the efficiency of arbitration.

 

4. Flexibility of Applicable Laws
In addition to law and contract stipulation, the arbitration award can also be rendered by referring to international practices and the principle of fairness and reasonableness, which makes arbitration the first choice for the parties to resolve complicated disputes and disputes occurring in innovative industries.

 

5. The Confidentiality of Arbitration
The arbitration case is heard in private, which effectively protects the commercial secrets and commercial reputation of the parties.

 

6. The Convenience of Enforcement of Awards at Home and Abroad
The arbitral awards can be enforced by the courts. If the losing party does not perform its obligation in accordance with the awards, the winning party can apply to the people’s court for the enforcement of arbitral awards pursuant to the Arbitration Law and the Civil Procedure Law of People’s Republic of China. China is the contracting state of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958) according to which the arbitral awards rendered by the Chinese arbitration institution can be recognized and enforced among
over 150 contracting states.