Common use of Governing Law and Settlement of Disputes Clause in Contracts

Governing Law and Settlement of Disputes. 14.1 The execution, effectiveness, performance, construction and settlement of disputes shall be governed by the laws of the PRC. 14.2 In the event of any dispute with respect to or in connection with the construction and performance of the provisions of this Agreement, the Parties shall first negotiate in good faith to resolve the dispute. In the event the Parties fail to reach an agreement on the resolution of such a dispute, any Party may submit the relevant dispute to China International Economic and Trade Arbitration Commission in Shijiazhuang for binding arbitration. The languages used during arbitration shall be Chinese. The arbitration shall be final and binding by both Parties. 14.3 The Parties shall in good faith in all other respects continue their implementation of this Agreement except issues in dispute between the Parties.

Governing Law and Settlement of Disputes. 14.1 12.1 The execution, effectivenessvalidity, performance, construction and interpretation of the Agreement and the settlement of disputes shall be governed by and interpreted in accordance with the laws of the PRCPeople’s Republic of China. 14.2 12.2 In the event case of any dispute with respect to or in connection with between the construction Parties hereto concerning the interpretation and performance of the provisions of this the Agreement, the Parties shall first negotiate in good faith to resolve the settle such dispute. In the event the Parties fail to reach an agreement on the resolution of If such a disputenegotiation fails, any Party either party may submit the relevant dispute to China Shenzhen Court of International Economic and Trade Arbitration Commission for arbitration in Shijiazhuang for binding arbitrationaccordance with its then effective arbitration rules. The languages used during place of arbitration shall be Shenzhen and the language of the arbitration shall be Chinese. The arbitration arbitral award shall be final and binding by both upon the Parties. 14.3 The Parties shall in good faith in all other respects continue their implementation of this Agreement except issues 12.3 Except for matters in dispute between the Parties, the Parties shall continue to perform their respective obligations in good faith in accordance with the provisions of the Agreement.