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.

SETTLEMENT OF DISPUTES AND GOVERNING LAW. 23.1. Any dispute arising from this Contract shall be settled through friendly consultationsconsultations between both Parties. 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 Shanghai 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.