What is the difference between arbitration and conciliation?
For arbitration, the parties shall select arbitrators. The selected arbitrators then shall resolve the dispute and render an arbitration award which is final and binding. For conciliation, a third party shall play the role of a conciliator helping the parties to resolve dispute through negotiation. The conciliator is not allowed to directly resolve the dispute and render a decision, […]
During the arbitration proceedings, is conciliation by parties recognized? How will the decision recognizing successful conciliation be enforced?
Pursuant to Article 9 of The Arbitration Law 2010, during the process of arbitration proceedings, Parties shall have the freedom to negitiate and reach agreement with each other to resolve their disputes, or to request the arbitration tribunal to conduct mediation in order for the parties to reach an agreement and resolve their dispute. If […]