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These transaction terms are governed by the laws of the People's Republic of China. Any dispute arising from or in connection with this transaction shall first be resolved through friendly negotiation; failing that, either party may submit the dispute to the China International Economic and Trade Arbitration Commission (CIETAC) for arbitration in Shenzhen, China in accordance with its rules in force at the time. The dispute may also be submitted to the APEC Online Dispute Resolution (ODR) platform for online mediation. The award is final and binding, and is enforceable in all contracting states under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention).