terminate the contract and to claim damages from the party in breach in
accordance with the provisions of Article 42 of the contract.
Article 44
Should all or part of the contract and its appendices be unable to be
fulfilled owing to the fault of one party, the party in breach shall bear
the liability therefor. Should it be the fault of both parties, they shall
bear their respective liabilities according to the actual situation.
Article 45
In order to guarantee the performance of the contract and its
appendices, both Party A and Party B shall provide each other with bank
guarantees for performance of the contract within __________days after the
contract comes into force.
Chapter 18 Force Majeure
Article 46
Should either of the parties to the contract be prevented from
executing the contract by force majeure, such as earthquake, typhoon,
flood, fire, war or other unforeseen events, and their occurrence and
consequences are unpreventable and unavoidable, the prevented party shall
notify the other party by telegram without any delay, and within 15 days
thereafter provide detailed information of the events and a valid document
for evidence issued by the relevant public notary organization explaining
the reason of its inability to execute or delay the execution of all or
part of the contract. Both parties shall, through consultations, decide
whether to terminate the contract or to exempt part of the obligations for
implementation of the contract or whether to delay the execution of the
contract according to the effects of the events on the performance of the
contract.
Chapter 19 Applicable Law
Article 47
The formation, validity, interpretation, execution and settlement of
disputes in respect of, this contract shall be governed by the relevant
laws of the People’s Republic of China.
Chapter 20 Settlement of Disputes
Article 48
Any disputes arising from the execution of, or in connection with, the
contract shall be settled through friendly consultations between both
parties. In case no settlement can be reached through consultations, the
disputes shall be submitted to the Foreign Economic and Trade Arbitration
Commission of the China Council for the Promotion of International Trade
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