bounding force meaning in English

粘合力

If there is any disputes occurred during the course of performing this contract , party a and party b shall settle this disputes by friendly negotiation or intermediation . if two parties fail to come to agreement by negotiation and intermediation , any party shall have right to submit to beijing arbitration committee for arbitration , the result of arbitration shall have bounding force to two parties
甲、乙双方就本合同发生争议时，应尽量通过友好协商或通过调解解决，若经协商、调解不能达成一致时，任何一方均有权向北京仲裁委员会提请仲裁，仲裁结果对双方均有约束力。