中外合资经营合同英文(15)
limit. Should the party in breach fail to pay after 3 months, __________%
of the contribution shall be paid to the other party, who shall have the
right to terminate the contract and to claim damages from the party in
breach in accordance with the provisions of Article 53 of the contract.
Article 55
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 56
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.
Chapter 20 Force Majeure
Article 57
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 21 Applicable Law
Article 58
