Unit Twenty-Five 仲裁 Part One 721 We should settle the dispute through negotiations without resorting to legal proceeding. 722.We prefer to resolve disputes by amicable , nonbonding conciliation between two parites. 723.As a matter of fact most disputes can be settled in a friendly way, with a view to developing a long-term relationship. 724.All disputes in connection with this contract shall be settled through friendly negotiation. 725.Personally I should say it’s so much better to resolve the dispute through friendly negotiations between ourselves. 726.Friendly negotiation is the best way to settle the dispute between us if there is any. 727.Where do you want to have arbitration held? 728.As far as the place for arbitration is concerned, the customary practice is to hold arbitration in the country of defendant. 729.If we submit the case for arbitration, the place for arbitration is to be in Japan and if you submit the case for arbitration , the place for arbitration is to be in China. 730.If the buyer is the plaintiff , the arbitration shall take place in Beijing. 731.The members of this arbitration association are professionally competent, and in a position to arbitration that sort of case arising from the quality inspection of the medical equipment. 732.Generally speaking, all the fee for arbitration shall be borne by the losing party unless otherwise awarded by the court. 733.the decision made by the arbitration commission shall be accepted as final and binding upon both parties. 734.The losing party shall bear the cost for arbitration according to the contract. 735.We require you to compensate us with an amount of losses totaling ￡748,000 caused by your failure to execute the contract and with all the expenses arising from this arbitration.