Common use of Methods of Dispute Resolution Clause in Contracts

Methods of Dispute Resolution. In the event of any dispute arising with respect to the construction and performance of this Agreement, the Parties shall first attempt to resolve the dispute through friendly negotiations. In the event that the Parties fail to reach an agreement on the dispute within 30 days after either Party's request to the other Parties for dispute resolution through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its arbitration rules. The arbitration shall be conducted in Shanghai, and the arbitration award shall be final and binding to all Parties. Subject to the provisions of the laws of China, the arbitrator may impose restrictions on and/or dispose of Party C’s equity interests or land and other assets (such as for award of remedies), grant injunction (such as for the conduct of business or compelling the transfer of assets) or grant other interim relief, or order winding up of Party C through arbitration. The Parties agree that, subject to the provisions of the laws of China, pending the formation of the arbitration tribunal or in appropriate cases, the courts with jurisdiction (including the courts in Hong Kong, the place of incorporation of the listed company associated with Party A, the place of incorporation of Party C and the place where the principal assets of listed company associated with Party A or Party C are located) have the right to grant interim relief in support of the arbitration. The validity of this Section shall not be subject to any change, cancellation or termination of this Agreement. After the arbitral award takes effect, either Party shall have the right to apply to the said courts with jurisdiction for enforcement of the arbitral award.