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COMPENSATION TRADE CONTRACT,
ARTICLE 11 AMENDMNET
The modification of this agreement in particular cases shall be agreed upon by both parties through negotiations.
ARTICLE 12 Force Majeure
In case that one or both parties are impossible to perform the duties provided herein on account of force majeure, the party (or parties) in contingency shall inform the other party (or each other) of the case immediately and may, provided the case is duly verified by the competent authorities, delay in performance of or not perform the relevant duties hereunder the be partially or entirely exempted from the liability for breach of this agreement.
ARTICLE 13 ARBITRATION
Any dispute arising from or in connection with this Contract shall be submitted to China International Economic and Trade Arbitration Commission,Shenzhen Commission for arbitration which shall be conducted in accordance with the Commission's arbitration rules in effect at the time of applying for arbitration. The arbitral award is final and binding upon both parties and the applicable law is the material law of P.R.C.
Notwithstanding any reference to arbitration, both Parties shall continue to perform their respective obligations under the Contract unless otherwise agreed.
ARTICLE LANGUAGE AND EFFECTIVE DATE
There are two originals hereof made respectively in Chinese and ______, both of which are of the same effect.
This agreement shall come into effect on the date when both parties set their hands hereunto and remain effective for_____ years. Upon its expiration, the parties may, if they choose, extend the term hereof for _____years or execute a new cooperation agreement, provided they apply to and approved by the Authority agencies concerned.
Party A Party B
Representative of___ Representative of____
(Authorized Signature)___ (Authorized Signature)
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，COMPENSATION TRADE CONTRACT
