【正文】 s Republic of China.Chapter 20 Settlement of DisputesArticle 48Any disputes arising from the execution of, or in connection with, the contract shall be settled through friendly consultations between both parties. In case no settlement can be reached through consultations, the disputes shall be submitted to the Foreign Economic and Trade Arbitration Commission of the China Council for the Promotion of International Trade for arbitration in accordance with its rules of procedure. The arbitral award is final and binding upon both parties.Article 49During the arbitration, the contract shall be observed and enforced by both parties except for the matters in dispute.Chapter 21 LanguageArticle 50The contract shal be written in Chinese and in ____________. Both language versions are equally authentic. In the event of any discrepancy between the two aforementioned versions, the Chinese version shall prevail.Chapter 22 Effectiveness of the Contract and MiscellaneousArticle 51The appendices drawn up in accordance with the principles of this contract are integral parts of this contract, including: the project agreement, the technology transfer agreement, the sales agreement etc.Article 52The contract and its appendices shall e into force mencing from the date of approval of the Ministry of Foreign Trade and Economic Cooperation of the People39。s Republic of China.Article 34The fiscal year of the joint venture pany shall be from January 1 to December 31. All vouchers, receipts, statistic statements and reports shall be written in Chinese.(Note: A foreign language can be used concurrently with mutual consent).Article 35Financial checking and examination of the cooperative venture pany shall be conducted by an auditor registered in China and reports shall be submitted to the board of directors and the general manager.In case Party B considers it necessary to employ a foreign auditor registered in another country to undertake annual financial checking and examination, Party A shall give its consent. All the expenses thereof shall be borne by Party B.Article 36In the first three months of each fiscal year, the manager shall prepare the previous year39。____________% of the left distributed to Party A and ___________% to Party B.Chapter 8 Selling of ProductsArticle 16The products of cooperative venture pany will be sold both on the Chinese and the overseas market, the export portion accounts for ____________%, ____________% for the domestic market.(Note: An annual percentage and amount for outside and domestic selling will be written out according to practical operations, in normal conditions, the amount for export shall at least meet the needs of foreign exchange expenses of the joint venture pany).Article 17Products may be sold on overseas markets through the following channels:The cooperative venture pany may directly sell its products on the international market, accounting for _________%.The cooperative venture pany may sign sales contracts with Chinese foreign trade panies, entrusting them to be the sales agencies or exclusive sales agencies, accounting for __________%.The cooperative venture pany may entrust Party B to sell its products, accounting for ________%.Article 18The cooperative venture39。s InvestmentArticle 15The cooperative venture pany shall distribute its profits in accordance with the following procedure after paying the ine tax:____________% as allocations for reserve funds, expansion funds, welfare funds and bonuses for staff and workers of the cooperative venture pany。Providing necessary technical personnel for installing, testing and trial production of the equipment as well as the technical personnel for production and inspecting。Assisting the cooperative venture in recruiting Chinese management personnel, technical personnel, workers and other personnel needed。Organizing the design and construction of the premises and other engineering facilities of the cooperative venture pany。s Republic of China.Article 5The organization form of the Cooperative venture pany is a limited liability pany. The profits, risks and losses of the Cooperative venture pany shall be shared by the parties according to the relevant provisions thereafter.Chapter 4 Th