Which of the following statements is NOT true for arbitration.
A.
An arbitration procedure can be customized to meet both parties’ needs.
B.
An arbitration award is final.
C.
Any dispute can be solved first by friendly negotiation, then arbitration, and finally litigation.
D.
Dispute can be solved through arbitration only when the seller and the buyer have included a term or condition in the contract to this effect.
E.
Compared with l itigation, arbitration is a more effective way to solve disputes in international trade.