23 Force Majeure:
Neither the Seller or the Buyer shall be held responsible for late
delivery or non-delivery owing to generally recognized "Force Majeure"
causes. However in such a case, the Seller shall immediately advise by
cable or telex the Buyer of the accident and airmail to the Buyer within
15 days after the accident, a certificate of the accident issued by the
competent government authority or the chamber of commerce which is located
at the place where the accident occurs as evidence thereof. If the said
"Force Majeure" cause lasts over 60 days, the Buyer shall have the right
to cancel the whole or the undelivered part of the order for the goods as
stipulated in Contract.
24 Arbitration:
Both parties agree to attempt to resolve all disputes between the
parties with respect to the application or interpretation of any term
hereof of transaction hereunder, through amicable negotiation. If a
dispute cannot be resolved in this manner to the satisfaction of the
Seller and the Buyer within a reasonable period of time, maximum not
exceeding 90 days after the date of the notification of such dispute, the
case under dispute shall be submitted to arbitration if the Buyer should
decide not to take the case to court at a place of jurisdiction that the
Buyer may deem appropriate. Unless otherwise agreed upon by both parties,
such arbitration shall be held in ________, and shall be governed by the
rules and procedures of arbitration stipulated by the Foreign Trade
Arbitration Commission of the China Council for the Promotion of
International Trade. The decision by such arbitration shall be accepted as
final and binding upon both parties. The arbitration fees shall be borne
by the losing party unless otherwise awarded.
Our Contract Template Database is complied in accordance with laws of P.R.China.This English document is translated according to its Chinese version. In case of discrepancy, the original version in Chinese shall prevail.
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