What Should We Know About Arbitration?
The arbitrator, also known as an umpire, is the third party who evaluates a dispute and renders a decision. Due to its speed, practicality, professionalism and efficiency in resolving economic disputes, commercial arbitration has become an internationally accepted method of resolving economic disputes. Arbitration over labour disputes is one of the most common forms of dispute resolution, and arbitration usually involves a legal process. For those working outside of the home, knowledge of this procedure is an essential part of their general knowledge of the law. A labour dispute is adjudicated by the Labour Dispute Arbitration Commission.
As a way of resolving disputes, arbitration is a process in which disputing parties choose, on a voluntary basis, to submit their dispute to the Arbitral Tribunal, which then issues a binding decision. Arbitration is an independent, autonomous, civil and quasi-judicial process. Disputes, citizens, legal persons and other prosecution agencies, complaints, charges or judicial organs in accordance with the responsibilities in relation to the actions of others when referring to criminal prosecution, should be handled by the people’s courts.
Because arbitration is quick and inexpensive, it is a good choice for many disputes; the fact that arbitration is final and does not require multiple levels of fees makes it less costly; the fact that arbitration is voluntary and confidential has little impact on future business opportunities. Furthermore, arbitration does not have territorial or hierarchical jurisdiction, so disputes can be resolved quickly and in the shortest possible time, resulting in an overall reduction in the cost of defending rights.
Due to the fact that arbitrators are not bound by the same rules and regulations as courts, arbitration procedures are less formal than court procedures. As the emphasis of the hearings is on oral testimony, all parties are given the opportunity to speak. Commercial and civil disputes often involve specialized knowledge and involve a wide range of complex legal, economic and trade issues, which makes expert adjudication a better reflection of authority. The presence of experts of a certain level of professionalism and ability in disputes between parties is an important safeguard for the impartiality of arbitration.
A great deal of the specific procedures involved in arbitration are determined and chosen by the parties through negotiations, which makes the arbitration process more flexible and elastic than litigation. The scope of application of arbitration is contractual disputes and other disputes over property rights and interests between citizens, legal persons and other organisations with equal subjects; the scope of application of mediation is all kinds of disputes involving disputes over civil rights and obligations between citizens and citizens and between citizens and legal persons and other social organisations. The scope of application of litigation includes all disputes of civil, criminal and administrative nature.
Citizens, legal persons and other organizations with similar issues between the rights and interests relating to the scope of the arbitration of contract disputes and other disputes, as in all disputes relating to the rights and duties of citizens and citizens, and citizens and legal persons and other non-governmental organizations mediate between the scope of practice. The scope of disputes should include all disputes of a civil, criminal and administrative nature.