Arbitration. Any dispute arising from or in connection with the Contract shall be settled through friendly negotiation. In case no settlement is reached, the dispute shall be submitted to China International Economic and Trade Arbitration Commission(CIETAC),for arbitration in accordance with its rules in effect at the time of applying for arbitration. The place of arbitration is in Shenzhen, China. The arbitral award is final and binding upon both parties. The fees for arbitration shall be borne by the losing party unless otherwise awarded.
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