13.5 In course of arbitration, both parties shall continue to exe-cute the Contract except the part of the Contract which is under arbitration.
ARTICLE 14 EFFECTIVENESS OF THE CONTRACT AND MISCELLANEOUS
14.1 This Contract is signed by the authorized representatives of both parties on ______ in Beijing. Both parties shall file ap-plications with their respective governments for ratification of the Contract, if required. The date of effectiveness of the Contract shall be the date of last happening of the follow-ings:
A.Ratification of the Contract from the last party.
B.Approval of the Contract by the World Bank.
C.The Licensee's receipt of the Performance Bond.
Both parties shall do their utmost to obtain the ratification,and shall advise the other party by telex or fax and send a letter for confirmation.
14.2 If the Contract cannot come into force within 6 (six) months after the date of signing the Contract, both parties shall have the right to cancel the Contract.
14.3 The Contract shall be in force for 5 years from the effective date of the Contract. After the expiration of its term of va-lidity, the Contract shall automatically become null and void.
14.4 The outstanding creditor's right and edbts between both parties at the expiration of the Contract shall not be influ- enced by the expiration of the Contract. The debtor shall continue to pay the creditor the outstanding debts.
14.5 This Contract is made out in the English language in two o-rigingals, one for each party.
14.6 The Contract is formed by Article I to Article 15 and Annex I to Annex ______. The text and Annex of the Contract shall be integral parts of the Contract and have the same le-gal force.
14.7 Any changes, amendment, supplement and subtractions to the stipulations of the Contract shall be valid after both parties' authorized representatives have signed written doc-uments which shall form integral parts of the Contract and shall have the same legal force as the Contract.
14.8 In the course of implementation of the Contract,all the communications between both parties shall be in the Eng-lish language. Formal notice shall be in written form in du-plicate and be sent by registered airmail.
14.9 Notwithstanding the stipulations in Clause 14. I of this Clause of this Contract, both parties shall have the right to terminate this Contract which has already or may become effective,if the Contract No. ______-has not come into effect not due to the Licensor's responsibility within 3 months after signing this Contract. In case that the Con-tract No. _______ can not become effective due to the Licensor's responsibility within 3 months after the signing of thes, the Licensee shall have the right to decide within two months thereafter whether or not to terminate this ontract. In such cases of termination, both parties shall settle account through friendly consultation as regard to compensation of payment and expenses already made by each party.
ARTICLE 15 LEGAL ADDRESSES
15.1 The Licensee:
Name: INTERNATIONAL TENDERING COMPANY OF CHINA NATIONAL TECHNICAL IMPORT & EXPORT CORPORATION
Address: Import Buiding, Er Li Gou, Xijiao, Beijing, China
Telex: 22075 CTCTC CN
Fax: 01 8315966
15.2 The Licensor:
Name: ______ Company, Germany
Address: ______ Germany
Telex: _______
Fax: ________
15.3 Signature of the both parties'authorized representatives:
Licensee (signature) Licensor (signature)
Our Contract Template Database is complied in accordance with laws of P.R.China.This English document is translated according to its Chinese version. In case of discrepancy, the original version in Chinese shall prevail.
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