Resolution of Economic Disputes: Economic Arbitration
I. Overview of Economic Arbitration
(I) Concept of economic arbitration
Arbitration is a method of resolving disputes between the disputing parties by submitting the issues in dispute to an arbitration institution for a legally binding award based on the arbitration agreement between the disputing parties. Economic arbitration refers to a system in which an economic dispute is submitted to the arbitration institution selected by the disputing parties according to their arbitration agreement for an arbitration award and the disputing parties perform their obligations under the award. Article 2 of the Arbitration Law states, "Disputes arising out of or in connection with contracts or over property rights or interests between individuals, legal entities, and/or other organizations of equal legal status may be referred to arbitration. "Arbitration law is a legal norm that regulates arbitration relations. The Arbitration Law of the PRC (hereinafter referred to as the "Arbitration Law") was adopted at the 9th Session of the 8th National People's Congress Standing Committee (NPCSC) on August 31, 1994, effective from September 1, 1995, and amended at the 10th Session of the 11th National People's Congress Standing Committee of the PRC on August 27, 2009.
Practising lawyers
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Robert Zhang
An international lawyer registered in Shanghai, China. Master's degreePublish…
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Steve Li
An international lawyer registered in Shanghai, China. Master's degreePublish…
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