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Introduction Arbitration has been considered as an alternative to litigation for a long time. Compared with litigation,it is widely recognised that arbitration has the advantages of neutrality,flexibility and confidentiality and it is an efficient and less expensive method of resolving international commercial disputes.Charmian Wang,’Arbitrating Business Disputes in Beijing-An Examination Focusing on CIETAC’s New Arbitration Rules ’ (1994) 1 Commercial Dispute Resolution Journal 39,39. Over the past decades,arbitration has become an important and frequently used method for settling international commercial disputes in the world.u001a
Compared with litigation, it is widely recognized, that arbitration has the advantages of neutrality, flexibility and confidentiality and it is an efficient and less expensive method of resolving international commercial disputes.Charmian Wang, ’Arbitrating Business Disputes in Beijing-An Examination Focusing on CIETAC’s New Arbitration Rules’ (1994) 1 Commercial Dispute Resolution Journal 39, 39. Over the past decades, arbitration has become an important and frequently used method for settling international commercial disputes in the world. u001a