Arbitration is a legal term, which refers to a method of resolving disputes by agreement between the two parties to submit the dispute to a third party (with recognized status), who will judge the merits of the dispute and make an award. Arbitration is different from litigation and trial. Arbitration needs both parties' voluntariness and is different from compulsory mediation. It is a special mediation. It is voluntary adjudication, which is different from litigation and other compulsory adjudication.
Arbitration is generally a system in which the parties voluntarily submit their disputes to an arbitration tribunal composed of arbitrators from non judicial institutions according to the arbitration agreement concluded between them, and is bound by the decision. Like the trial activities of the court, arbitration is related to the substantive rights and interests of the parties, and is one of the ways to solve civil disputes.
Among them, mediation refers to the activities of a neutral third party to mediate and mediate between the parties, help to exchange opinions, put forward solutions, and facilitate both parties to resolve conflicts.
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