Common use of Applicable Laws and Dispute Resolution Clause in Contracts

Applicable Laws and Dispute Resolution. The Contract shall be under the jurisdiction of the laws of People’s Republic of China. Upon the effectiveness of this Contract, any dispute arising from the execution, fulfillment of this Contract or related to this Contract shall be first resolved through negotiation. In case where negotiation fails, the dispute shall be brought to local court in which the Lender (or institutes under Bank of China to which such dispute is related) is located. During the period of dispute resolution, other terms under this Contract shall continued to be fulfilled by both parties in case where such dispute does not affect the fulfillment of other terms under this Contract.