Each party will in all matters relating to this Agreement act as an independent contractor. Nothing contained in this Agreement, nor the execution or performance thereof, shall be construed as creating any agency, partnership, or other form of joint venture between the parties.
The formation, validity, interpretation and implementation of this Agreement shall be governed by the laws and regulations of Hong Kong Special Administrative Region of the People’s Republic of China.
Any dispute, controversy or claim arising out of or relating to this Agreement, or the interpretation, breach, termination or validity hereof, shall be first resolved through consultation between the parties. In case the dispute is not resolved by consultations within thirty (30) days, then any party may submit the dispute to Hong Kong International Arbitration Center for arbitration in accordance with its arbitration rules then in force at the time the dispute submitted for arbitration.
Failure or delay by either party in enforcing or partially enforcing any provision of this Agreement will not be construed as a waiver of any of their respective rights under this Agreement. Any waiver by either party of any breach or any default under any provision of this Agreement by the other(s) shall not be deemed a waiver of any subsequent breach or default and will in no way affect the terms and conditions of this Agreement.