Disputes over economic contracts refer to disputes between the two parties on the performance of the contract and the consequences of non-performance. According to the provisions of the Economic Contract Law, there are several types of solutions: negotiation, mediation, arbitration, and litigation.
Negotiate. Negotiation is a way for both parties to the contract to voluntarily resolve disputes based on facts and administrative regulations and on the basis of voluntary mutual understanding.
Mediation. Mediation is a way to reach agreements and resolve disputes on the basis of mutual understanding and mutual accommodation under the auspices of a third-party decoration company. Mediation can be used for civil mediation, mediation by administrative authorities, mediation by arbitration institutions, and mediation by courts.
arbitration. Arbitration is the arbitral institution's legally binding adjudication in accordance with the "People's Republic of China Arbitration Law." It stipulates that the parties shall perform the award. If one party fails to perform, the other party may apply to the people's court for enforcement in accordance with the relevant provisions of the Civil Procedure Law. The people's court to which it is applied should be implemented.
litigation. Litigation means that the parties request the people’s court to exercise the judicial power in accordance with the law, review the disputed part of the economic agreement between the parties, and make a trial that is enforced by the state to ensure the realization of its lawful rights and interests.
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