English to Arabic Law/Patents Law: Contract(s)

“8. ARBITRATION AND LIABILITY
8.1 Any and all disputes, differences, or demands as may arise out of this Contract or in connection herewith,
or concerning the violation, termination, or invalidity hereof, shall be subject to resolution on mutuallyacceptable
conditions through negotiations and consultations. If an understanding cannot be reached,
disputes shall be resolved by the High Arbitration Court of the Kyrgyz Republic in accordance with the rules
and procedures of that court.
8.2 Decisions of the aforementioned court shall be conclusive and binding for both Parties.
8.3 The substantive law of the Kyrgyz Republic shall apply to the relations of the Parties under this Contract.
8.4 Default on obligations pertaining to payment and delivery of goods shall entail liability for the Parties in
accordance with the Civil Code of the Kyrgyz Republic, including with respect to lost benefit and losses
associated with failure to perform obligations under this Contract.
8.5 Breaching of the delivery schedule shall entail liability for SUPPLIER, who shall pay a penalty at the
rate of 0.1% of the value of the volume of goods not delivered on time.”