Common use of Governing Laws and Dispute Settlement Clause in Contracts

Governing Laws and Dispute Settlement. 7.1 The conclusion, validity, interpretation, performance, modification and termination of this Agreement and the settlement of disputes shall be governed by the laws of China. 7.2 Any dispute arising out of the interpretation and performance of the Contract shall be settled by the Parties hereto first through friendly negotiations. If the dispute fails to be settled within 30 days after one Party gives a written notice to the other Party requesting settlement through negotiations, either Party may refer the dispute to Shanghai Branch of China International Economic and Trade Arbitration Commission for arbitration conducted in accordance with its rules of arbitration. The arbitration shall be conducted in Shanghai in the language of Chinese. The arbitration award shall be final and binding upon the Parties. 7.3 When any dispute arises out of the interpretation and performance of this Agreement or any dispute is under arbitration, except for the matters in dispute, the Parties hereto shall continue to exercise their other rights under this Agreement and perform their other obligations under this Agreement.

Governing Laws and Dispute Settlement. 7.1 The conclusion, validity, interpretation, performance, modification and termination of this Agreement and the settlement of disputes shall be governed by the laws of China. 7.2 Any dispute arising out of the interpretation and performance of the Contract Agreement shall be settled by the Parties hereto first through friendly negotiations. If the dispute fails to be settled within 30 days after one Party gives a written notice to the other Party requesting settlement through negotiations, either Party may refer the dispute to Shanghai Branch of China International Economic and Trade Arbitration Commission (Shanghai International Arbitration Center) for arbitration conducted in accordance with its rules of arbitration. The arbitration shall be conducted in Shanghai in the language of Chinese. The arbitration award shall be final and binding upon the Parties. 7.3 When any dispute arises out of the interpretation and performance of this Agreement or any dispute is under arbitration, except for the matters in dispute, the Parties hereto shall continue to exercise their other rights under this Agreement Contract and perform their other obligations under this AgreementContract.