What should I do if I owe a loan and receive an arbitration notice?

Legal Analysis: According to Article 62 of the Arbitration Law of People's Republic of China (PRC), the parties shall perform the award. If one party fails to perform, the other party may apply to the people's court for execution in accordance with the relevant provisions of the Civil Procedure Law. The people's court to which the application is made shall execute it.

If the respondent provides evidence to prove that the award is under any of the circumstances stipulated in the second paragraph of Article 213 of the Civil Procedure Law, the people's court shall form a collegial panel for examination and verification, and decide not to execute it.

Legal basis: Article 62 of the Arbitration Law of People's Republic of China (PRC), the parties shall perform the award. If one party fails to perform, the other party may apply to the people's court for execution in accordance with the relevant provisions of the Civil Procedure Law. The people's court to which the application is made shall execute it.