be reached, neither party can force the other to submit to arbitration. However while resorting to litigation, the plaintiff may take a unilateral action against the defendant without agreement between the two parties in advance.
①The arbitration organization is not an official one. The parties in question can appoint
their own arbitrator respectively, however the third one will be appointed by the arbitration institution. By contrast, judges in litigation should be appointed by the government.
②The award made by arbitrators is final and binding on both parties, that is, neither party
of the dispute shall bring an appeal for revision before a law court or any other organizations. An arbitral award once made has the force of law, but there is no need to register and keep it in a law court. While in the case of litigation, if the parties concerned refuse to obey the verdict, they can retain the right to appeal to a higher court.
96. What are the contents of an arbitration clause?
答：An eligible, effective, complete and accurate arbitration agreement or arbitration clause should have the following elements: place of arbitration, the name of the arbitration body, the applicable arbitration rules, the arbitration award, etc.
Ⅴ. Calculation
41. Company C has a contract to export 10 metric tons of Seafood, to be packed in cartons each of 40 lb. (1 lb＝0.453 58kg), with a 5％ more or less allowed both in quantity
and in amount.
?How many cartons of Seafood can Company C deliver at most? ?How many cartons of Seafood should Company C deliver at least? 解：1 lb＝0.45358kg, so 40 lb＝18.144kg
Maximum: [10×1000kg×(1＋5％)] / 18.144 ＝578.7 (Attention: 0.7 should be deleted here) ＝578 carto