Common use of Applicable Law and Settlement of Dispute Clause in Contracts

Applicable Law and Settlement of Dispute. 12.1 The execution, effectiveness, performance and interpretation of this Agreement as well as the settlement of dispute shall be governed and interpreted by the PRC law. 12.2 If the Parties have any dispute over the interpretation and performance of any provisions of this Agreement, the Parties shall seek to settle it through negotiations in good faith. If the Parties fail to reach an agreement on the settlement, either Party may file such dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitral rules. The place of arbitration shall be in Beijing and the language shall be Chinese. The arbitral award shall be final and binding on the Parties. 12.3 Except for the dispute issues between the Parties, the Parties shall continue to perform their other obligations under this Agreement in good faith.

Applicable Law and Settlement of Dispute. 12.1 The execution, effectiveness, performance and interpretation of this Agreement as well as the settlement of dispute shall be governed and interpreted by the PRC law. 12.2 If the Parties have any dispute over the interpretation and performance of any provisions of this Agreement, the Parties shall seek to settle it through negotiations in good faith. If the Parties fail to reach an agreement on the settlement, either Party may file such dispute to Shanghai Branch of China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitral rules. The place of arbitration shall be in Beijing Shanghai and the language shall be Chinese. The arbitral award shall be final and binding on the Parties. 12.3 Except for the dispute issues between the Parties, the Parties shall continue to perform their other obligations under this Agreement in good faith.