Common use of Governing law and litigation Clause in Contracts

Governing law and litigation. All disputes shall be settled in accordance with the provisions of this Agreement. The substantive law in force in Italy without reference to its conflict of law provisions shall govern this Agreement. Any disputes arising under this Agreement shall first be submitted to the respective authorized management representatives of the Parties for discussion in good faith and amicable resolution. In the event the Parties do not resolve such dispute amicably, the matter shall be settled through arbitration in accordance with the Rules of Conciliation and Arbitration of the International Chamber of Commerce by an arbitration panel composed of three (3) arbitrators. The arbitrators shall be fluent in English and familiar with Italian Law, and appointed in compliance with the aforementioned Rules of Conciliation and Arbitration of the International Chamber of Commerce. The arbitration proceeding shall take in place in Turin (Italy) and shall be conducted in English. The Italian Code of Civil Procedure will apply to the proceeding where the Rules of Conciliation and Arbitration of the International Chamber of Commerce are silent.