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

Application of Law and Dispute Settlement. 7.1 The conclusion, validity, interpretation, performance of this Agreement and dispute settlement shall be governed by and construed under the laws of China. 7.2 In the case of all disputes arising from or in connection with the performance of this Agreement, either Party shall have the right to refer the dispute to the China International Economic and Trade Arbitration Commission for arbitration in Beijing under the arbitration procedures and rules then in force. Arbitration shall be conducted in a confidential manner and in Chinese. The arbitral award shall be final and binding on the Parties. 7.3 During the period of arbitration, the Parties shall continue to have their respective rights hereunder and perform their corresponding obligations hereunder, except for the part in dispute and under the arbitration between the Parties.