Common use of Governing Laws and Dispute Settlement Clause in Contracts

Governing Laws and Dispute Settlement. 12.1 The execution, validity, performance and interpretation, as well as the settlement of dispute shall be interpreted by laws of the People’s Republic of China. 12.2 Any dispute over the interpretation and performance of any clauses hereunder shall be settled by parties hereto through friendly negotiation. If such negotiation fails, any party may bring relevant dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with existing arbitration rules by then. The arbitration shall be made in Beijing and the arbitration language shall be Chinese. The rule of arbitration is final, having binding force upon parties hereto. 12.3 Save as issue being disputed over, parties hereto shall continue their obligations hereunder in line with the principle of good will.

Governing Laws and Dispute Settlement. 12.1 The execution, validity, performance and interpretation, as well as the settlement of dispute shall be interpreted by laws of the People’s Republic of China. 12.2 Any dispute over the interpretation and performance of any clauses hereunder shall be settled by parties hereto Parties hereunder through friendly negotiation. If such negotiation fails, any party may bring relevant dispute to China International Economic and Trade Arbitration Commission for arbitration in accordance with existing arbitration rules by then. The arbitration shall be made in Beijing and the arbitration language shall be Chinese. The rule of arbitration is final, having binding force upon parties heretoParties hereunder. 12.3 Save as Except for issue being disputed over, parties hereto Parties hereunder shall continue their obligations hereunder in line with the principle of good will.