10.2. The Party for which the performance of an obligation became impossible shall immediately notify in written form the other Party of the beginning, expected time of duration and cessation of the above circumstances. Certificate of a Chamber of Commerce (Commerce and Industry) or other competent authority or organization of the respective country shall be a sufficient proof of commencement and cessation of the above circumstances.
11.1. All disputes or differences which may arise out of or in connection with the present Contract are to be settled by Arbitration in accordance with the UNCITRAL Rules as are at present in force. The place of Arbitration shall be Stockholm, Sweden. The appointing authority shall be Chamber of Commerce in Stockholm.
11.2. The arbitral tribunal shall be composed of 3 arbitrators. Each Party shall appoint one arbitrator. The two appointed in such manner arbitrators elect the third arbitrator who serves as an umpire – the chairman of Arbitration court.
11.3. The present Contract is governed by the substantive law of Sweden with the exclusion of the provisions of conflict of laws. The language to be used in the arbitration proceeding shall be English. The award of the Arbitration is final and binding upon both parties. All expenses with respect to the Arbitration shall be born by the losing Party except otherwise mentioned by the Arbitration award.
12. Other conditions.
12.1. All taxes, duties, fees and other expenses whatsoever connected with the fulfilment of the Contract on the territory of the Sellers’ country are to be paid by the Sellers and beyond it – at the expenses of the Buyers.
12.2. Neither of the parties is entitled to transfer its rights and obligations under the Contract to any third party without the written consent of the other Party.
12.3. Any alternations and/or appendices to the Contract are valid only if they are made out in the written form and signed by the duly authorized representatives of the Parties.
12.4. The Parties undertake to maintain confidentiality with respect to the information contained in this contract and also concerning
information about of the Party financial, economic or other activities that was provided to the other Party or became known in connection with this Contract preparation or execution. The Parties have the right to transfer information relating to this Contract with the prior consent of the other Party.
The provisions of this section regarding Confidentiality will remain in force for 3 (three) years after expiration of this Contract.
Restrictions on disclosure of confidential information will not apply if such disclosure is required to comply with the requirements of the legislation of Sweden.
In case of necessity of transfer by the Seller to the Buyer of information constituting a commercial secret of the Seller, the Parties undertake to conclude a Non-disclosure Agreement, otherwise such information will not be provided.
The parties acknowledge that the information contained in this contract may be disclosed by one of the Parties without the consent of the other party to the following third parties: organizations that maintain accounting and tax records, auditors, accounting and tax accounting consultants to ensure the effective implementation of this contract and provided that such third parties to whom the said information is to be disclosed, are aware of the confidential nature of such information and have assumed a written obligation compliance with the confidentiality concerning the information provided to them.
12.5.All Appendixes mentioned in the Contract are its integral parts.
12.6. After the signing of the Contract all preceding negotiations and correspondence connected with it are out of force.
12.7. Moscow is considered to be the place of the Contract signing.
12.8. E-mail signature of the Contract and all Appendixes and Addendums is permissible.
12.9. The present Contract is signed in Russian and English, in duplicate, one original for each party concerned. English text is prevailing.