Two parties commit together collaborate to carry out this project. None of two parties break any commitment and article in this Joint-Venture agreement, or collaborate with a third party to realize this project.Article 4. LiabilityEach of the Parties warrants that it will indemnify and keep indemnified the other Party against all legal liabilities arising out of or in connection with the performance, or otherwise, of its obligations under this Agreement.Article 5: Validity of Joint venture agreementThis agreement will be valid from signing date to the date of finishing warranty duty under the project. This agreement will be automatically expired in the case that the joint-venture fail the bid.Article 6. ArbitrationAny dispute arising in connection with this Agreement which cannot be resolved by the Parties in accordance with the terms of this Agreement shall be settled by the arbitration of The Vietnam economical court for final settlement. In case the Client is directly involved in the dispute, the clauses of the Contract with regard to dispute resolution shall prevail.The fee of the arbitration and/or other charges shall be born by the losing party, unless otherwise agreed. Article 7: General conditionsTwo parties commit to collaborate strictly to implement all terms and conditions under this agreement and carry out the project successfully. All documents signed by Tan Phat Equipment JSC – The representative of Joint venture related to the Project will bind the responsibility of both parties.
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