“Dispute Settlement: All disputes and claims arising out from or relating to the present contract including its conclusion, validity, termination or breach, and its interpretation or application, shall be submitted to the Arbitration Center of the Iran Chamber (ACIC) for binding and final arbitration in accordance with the Law of Statute of the Arbitration Center of the Iran Chamber and Arbitration Rules of ACIC. In addition to the applicable laws and regulations, the arbitrator(s) shall take into account the relevant trade usages. The present arbitration clause shall be treated as an agreement independent of this contract and shall in any case be binding”.

All disputes and claims arising out from or relating to the present contract shall be settled through mediation in accordance with Mediation Rules of ACIC. The mediation process shall be completed within two months as of the date of commencement of the proceeding. This time limit may be extended by mutual consent of the parties.

All disputes and claims arising out of or relating to the present contract shall be submitted to mediation in accordance with Mediation Rules of ACIC. The mediation process shall be completed within two months as of the date of the commencement of the proceeding. This time limit may be extended by mutual consent of the parties.

The parties agreed by terms of this contract and as an independent agreement from the main contract that any disputes and claims arising out from or relating to the present contract Including its conclusion, validity, termination or breach and its interpretation or application which is not settled through mediation within the said time limit, shall be finally submitted to ACIC arbitration and shall be resolved in accordance with the Rules of Arbitration of the ACIC. The arbitration award shall be final and enforceable.

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