Information on Economic Dispute Resolution Sample Clauses

Information on Economic Dispute Resolution. 1.1 Meaning Economic dispute resolution refers to the solving of problems where there is disunity and where the rights and interests of the litigants are affected through contractual violation and/or the operation of production and/or business in such a way that leads to damages. There can be claims and requests made to consider resolving all kinds of problems, such as civil claims, requests for mediation and/or arbitration, and so forth. The resolution of economic disputes by the OEDR or UEDR takes place through alternative dispute resolution (ADR), which is a means of resolving errors concerning interests arising from contractual violations concerning production or business – for example – but also extending to trade, investment, services, and so forth – through the voluntary arbitration and/or mediation of the litigants and may shed light upon both litigants as agreed in a contract or after a dispute has taken place. The litigants enter into this voluntarily at OEDR or UEDR level to consider and summarize the dispute in question. The dispute would be economic or commercial as specified by the Law on Economic Dispute Resolution5 and come at the request of one or both of the litigants for consideration.
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Related to Information on Economic Dispute Resolution

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