Conflicts of interests

In case of any disputes arising out of the matters provided for in this Agreement, the Parties will take all possible measures to resolve them through negotiations. If the Parties couldn’t reach an agreement by negotiation, any other dispute that appears from the current Agreement or associated with it, including different questions about the entity, existence, actuality or termination of the Agreement or this 15 Section, it is considering or solving, according to London Court International Arbitration (LCIA) in edition that is valid at the time of consideration which is a part of the 15 Section by pointing at it.

In case of the emergence of any disputes regarding the execution or interpretation of this Agreement, which cannot be resolved peacefully or by arbitration, Royal Bitex has the right to require resolution of the dispute in the Court at the location of Royal Bitex.The number of arbitrators has to be three (3), elected in accordance with the LCIA Regulation. The place of arbitration is in London, United Kingdom. Arbitration is conducted in English and the decision is executed in English.

The Parties agree that information about arbitration decision (including but not limited to it) is considered confidential and is not disclosed to third parties without the written consent of the Parties unless it is required by law. This decision is final and binding for both Parties and may be used or filed for execution in any court that has appropriate jurisdiction; an application concerning enforcement may be applied in a competent court, if necessary.

In case of the emergence of any disputes regarding the execution or interpretation of this Agreement, which cannot be resolved peacefully or by arbitration, Royal Bitex has the right to require resolution of the dispute in the Court at the location of Royal Bitex.