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How to settle the possible disputes arising out between parties in a Sino-foreign joint-venture or co-operation enterprise?
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| 2005-11-30 16:26:27 |
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Any dispute arising out of explanation or performance of the contract, agreement of corporate, and articles of association and by-laws between various parties of a joint-venture, shall be settled by the parties concerned through friendly negotiation or conciliation as possible. In case no settlement can be reached through amicable consultation, the case shall be submitted for arbitration or judicial settlement.
When the dispute is submitted by either parties for arbitration according to the written agreement on arbitration, he/she may submit to China International Economic and Trade Arbitration Commission. The commission will treat in accordance with the arbitration procedure and rule formulated by the commission. If the parties concerned all assent, the dispute may be submitted to an arbitration commission in the appellee’s country or a third country, in this case the arbitration will be treated in accordance with the arbitration procedure and rule of the commission.
In case no written arbitration agreement exists between various parties of the joint-venture, any party may appeal to a people’s court according to law.
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