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

Application of Law and Dispute Settlement. This contract shall be governed by the laws of the People’s Republic of China. After this contract comes into effect, all disputes arising from the establishment and performance of this contract can be settled by both parties through negotiation. If the negotiation fails, either party may adopt the 2nd way as follows: 1. The case shall be submitted to the Arbitration Commission for arbitration at //// (place of arbitration) according to the commission’s regulations at the time when the case is submitted. 2. Bring a lawsuit to the People’s Court of the place where the lender or any other institution of Bank of China Limited exercise its rights and obligations. 3. Bring a lawsuit to the People’s Court with jurisdiction according to law. During the dispute settlement period, if the dispute does not affect the performance of other terms of the contract, the other terms shall continue to be performed.

Application of Law and Dispute Settlement. This contract shall be governed by the laws of the People’s 's Republic of China. After this contract comes into effect, all disputes arising from the establishment and performance of this contract can be settled by both parties through negotiation. If the negotiation fails, either party may adopt the 2nd way as follows: 1. The case shall be submitted to the Arbitration Commission for arbitration at //// (place of arbitration) according to the commission’s regulations at the time when the case is submitted. 2. Bring a lawsuit to the People’s 's Court of the place where the lender or any other institution of Bank of China Limited exercise its rights and obligations. 3. Bring a lawsuit to the People’s 's Court with jurisdiction according to law. During the dispute settlement period, if the dispute does not affect the performance of other terms of the contract, the other terms shall continue to be performed.