Common use of Negotiations and Arbitration Clause in Contracts

Negotiations and Arbitration. 20.1 In the event of a dispute between parties during the implementation or explanation of the Contract, both parties shall resolve to use good faith negotiations to settle any outstanding issues. The supplementary contract after the negotiations has equal legal effects to the Contract. 20.2 However, in the event good faith negotiations do not succeed, after 30 days of the dispute either party has the right to request the binding arbitration or lawsuit in the local court of the Contract Area. 20.3 The obligations regarding negotiations and arbitration under the Article20 shall survive any termination of the Contract.