Article 11. Governing Law
The validity, formation, and performance of this Agreement shall be governed by and construed in accordance with the laws of the People's Republic of China
Article 12. Arbitration
All disputes, controversies, or differences which may arise between the parties out of or in relation to or in connection with the Agreement or for the breach thereof, shall be finally settled by arbitration in Shanghai, China in accordance with the Commercial Arbitration Rules of the Chinese Commercial Arbitration Board. The award rendered by arbitrator(s) shall be final and binding upon both parties concerned.
Article 13. Non-Waiver
No claim or right of either party under this Agreement shall be deemed to be waived or renounced in whole or in part unless the waiver or renunciation of such claim or right is acknowledged and confirmed in writing by such party.
Article 14. Severability
If any one or more of the provisions contained in this Agreement shall be declared invalid, illegal or unenforceable in any respect under any applicable law, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected and in such case the parties hereto oblige themselves to reach the intended purpose of the invalid provision by a new, valid and legal stipulation.
Article 15. Entire Agreement
This Agreement constitutes the entire agreement between the parties, all prior representations having been merged herein, and may not be modified except by a writing signed by a duly authorized representatives of both parties.
IN WITNESS WHEREOF, the parties through their authorized representatives have executed the Agreement as of the date first above written.
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