请试着写出arbitration的中文含义，并试着用英文解释

??All disputes arising from the execution of this Agreement shall be settled through negotiation between both parties．In the event that no settlement can be reached, the case in dispute shah then be submitted for arbitration to the China International Economic and Trade Arbitration Commission, Beijing, China, in accordance with its Rules of Procedure of Arbitration． The decision made by this Commission shall be regarded as final and is binding on both parties．

arbitration tribunal

A、a technique for the resolution of disputes outside the courts.

B、the principled guide to action taken by the administrative executive branches of the state with regard to a class of issues, in a manner consistent with law and institutional customs.

C、classification and as qualification

D、Act of sending back, reference

Arbitration agreement excludes the jurisdiction of the court. (   )

Arbitration agreement excludes the jurisdiction of the court. (   )

A、MOFTEC

B、CCPIT

C、CIETAC

D、ICC

A、Simple procedure

B、Low cost

C、Public accessibility

D、Flexibility - An arbitration procedure can be customized to meet both parties’ needs

When applying for arbitration, the claimant must submit an ______.

All of the following statements are true about arbitration EXCEPT that ______.

A．it is not of the first-class justice system

B．it is very limited in protecting employees~ rights

C．arbitrators always take a neutral stand in this process

D．it is preferred by both employers and employees

Arbitration is made either in the country of the other party or in the third country. (  )