求翻译：ARBITRATION: All disputes in connection with this Contract or the execution thereof shall be settled through friendly negotiations. In case no settlement can be reached, the case shall be submitted for arbitration to the China International Economics and Trade Arbitration Commission, in Beijing, in accordance with its Rules of Arbitration. The decision of the Arbitration Commission shall be final and binding upon both parties. Arbitration fee shall be borne by the losing party.是什么意思？

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