Common use of SETTLEMENT OF DISPUTES AND GOVERNING LAW Clause in Contracts

SETTLEMENT OF DISPUTES AND GOVERNING LAW. 23.1. Any dispute arising from this Contract shall be settled through friendly consultations. If a dispute cannot be settled within sixty (60) days after the commencement of consultations, then a Party to the dispute may submit it to the China International Economic and Trade Arbitration Commission in Beijing for arbitration in accordance with its arbitration procedures. Such arbitration shall be final and binding on both Parties. 23.2. During the period of arbitration of a dispute, the Investing Parties shall continue to perform their obligations hereunder, except for those obligations involved in the matter under dispute, and to exercise their rights hereunder. 23.3. The execution, validity, interpretation and performance of this Contract and the settlement of disputes related to this Contract shall all be protected and governed by the laws of the PRC. 23.4. The JVC and the Parties shall apply for any tax, investment and other benefits or preferences more favourable than the terms of this contract that become available or publicly known after date hereof.