Joint Venture Agreement

    本協(xié)議于19XX年X月X日簽訂。
    簽約第一方：ABC公司，該公司系中國(guó)公司，在中國(guó)XX注冊(cè)（以下簡(jiǎn)稱“甲方”）；
    簽約第二方：XYZ公司，系美國(guó)公司，在美國(guó)XX注冊(cè)（以下簡(jiǎn)稱“乙方”）。
This Agreement made this____ day of____ , 19     by ABC Corporation (hereinafter called “Party A”), a Chinese corporation having its registered office at____, China, and XYZ Company (hereinafter called “Party B”), an American company having its registered office at_____, USA.

    茲證明
　　 WITNESSES

    甲方在中國(guó)生產(chǎn)和銷售XX產(chǎn)品；
    乙方生產(chǎn)和銷售XX產(chǎn)品（以下稱“許可產(chǎn)品”），擁有許可產(chǎn)品的美國(guó)專利（以下稱“專利”）和Ｘ號(hào)注冊(cè)商標(biāo)；
WHEREAS Party A is engaged in manufacturing and selling        in China； and
WHEREAS Party B is engaged in manufacturing and selling        (hereinafter called “Licensed Product”) and has American patent rights to Licensed Product (hereinafter called “Patents”)and registered Trademark No.____(hereinafter called “Trademark”)； and

    甲乙雙方認(rèn)為按照中華人民共和國(guó)的法律成立共同所有的公司（以下稱“合營(yíng)公司”），在XX地從事生產(chǎn)、銷售和開(kāi)發(fā)許可產(chǎn)品，對(duì)雙方都是有利的；
WHEREAS the Parties consider it mutually advantageous to organize a jointly owned corporation (hereinafter called “Joint Venture”) under the laws of the People's Republic of China to engage in the manufacture, sale and development of Licensed Product in______.

    為此，鑒于本協(xié)議所述的前提與約定，特此立約如下：
NOW THEREFORE, in consideration of the premises and convenance described hereinafter Party A and Party B agree as follows:

第一條  定義
Article 1   Definitions

    在本協(xié)議中，除非文中另有明確規(guī)定，下列短語(yǔ)具有以下意思：
    1.“合營(yíng)企業(yè)”，系指根據(jù)本協(xié)議建立的公司。
    2.“許可產(chǎn)品”，系指XXXX。
    3.“專利”，系指XXXX。
    4.“商標(biāo)”，系指XXXX。
........
In this Agreement, the following terms have the following meanings unless the context clearly dictates otherwise.
1.“Joint Venture” means the corporation to be organized pursuant to the provisions of Article 2 hereto.
2.“Licensed Product” means_____.
3.“Patents” means______.
4.“Trademark” means______.
........

第二條   建立合營(yíng)企業(yè)
Article 2   Formation of Joint Venture

    1、甲方和乙方按照中華人民共和國(guó)的法律建立合營(yíng)企業(yè)。
    2、合營(yíng)企業(yè)稱為XXXX，地址為XXXX。
    3、合營(yíng)企業(yè)的一切活動(dòng)，必須遵守中華人民共和國(guó)的法律、法令和有關(guān)條例規(guī)定。
    4、合營(yíng)企業(yè)的組織形式為有限責(zé)任公司。甲乙雙方以各自認(rèn)繳的出資額對(duì)合營(yíng)公司的債務(wù)承擔(dān)責(zé)任。各方按其出資額在注冊(cè)資本中的比例分享利潤(rùn)和分擔(dān)風(fēng)險(xiǎn)及虧損。
    5、合營(yíng)企業(yè)的組建費(fèi)用由甲乙雙方平均分擔(dān)。
1. Party A and Party B shall spare no efforts for the organization of Joint Venture under the laws of the People's Republic of China.
2. The name of Joint Venture is______with its legal address:_______.
3. All activities of Joint Venture shall comply with the provisions of the laws, decrees and pertinent regulations of the People's Republic of China.
4. Joint Venture shall take the form of a limited liability company.   The profits, risks and losses of Joint Venture shall be shared by both Party A and Party B in proportion to the contributions to the registered capital.
5. The expenses of organizing Joint Venture shall be equally borne by Party A and Party B.

第三條   生產(chǎn)經(jīng)營(yíng)的目的、范圍和規(guī)模
Article 3   Purpose, Scope and Size of Business

    1、 甲、乙雙方合資經(jīng)營(yíng)的目的是：本著加強(qiáng)經(jīng)濟(jì)合作和擴(kuò)大技術(shù)交流的愿望，采用先進(jìn)而適用的技術(shù)和科學(xué)的經(jīng)營(yíng)管理方法，提高產(chǎn)品質(zhì)量，開(kāi)發(fā)新產(chǎn)品，并在質(zhì)量、價(jià)格等方面具有國(guó)際市場(chǎng)上的競(jìng)爭(zhēng)能力，提高經(jīng)濟(jì)效益，使投資各方獲得滿意的經(jīng)濟(jì)利益。
     2、 合營(yíng)企業(yè)生產(chǎn)XXXX（許可產(chǎn)品），生產(chǎn)能力為每年XXXX。合營(yíng)企業(yè)將努力改進(jìn)許可產(chǎn)品，改善管理，以適應(yīng)國(guó)際競(jìng)爭(zhēng)。
    3、 合營(yíng)企業(yè)盡可能開(kāi)發(fā)許可產(chǎn)品的新品種，以滿足國(guó)內(nèi)外市場(chǎng)的發(fā)展需要。
1. In line with the spirit of strengthening economic cooperation and expanding technical exchange, Joint Venture is to use state-of-the-art and appropriate technology and equipment, with efficient management systems, to produce Licensed Product which shall be of top quality and competitive in the world markets, so as to achieve satisfactory economic returns.
2. Joint Venture is to product_____(Licensed Product) with a production capacity of_____per year.  Joint Venture shall do its best to improve Licensed Product and management so as to be able to meet competition worldwide.
3. Joint Venture shall, if possible, develop new varieties of Licensed Product in order to keep up with market developments both in the host country and in the world.

第四條  資本結(jié)構(gòu)
Article 4  Capital Structure

    1、 合營(yíng)企業(yè)的注冊(cè)資本為XXXX，其中甲、乙雙方各出資XX，即各占50%。
    2、 甲方出資
    （1）廠房：X X X X；
    （2）國(guó)產(chǎn)設(shè)備：X X X X；
    （3）現(xiàn)金：X X X X；
    （4）合資企業(yè)廠地：X X X X；
     3、 乙方出資
    （1）現(xiàn)金：X X X X ；
    （2）先進(jìn)設(shè)備：X X X X；
    （3）工業(yè)產(chǎn)權(quán)：X X X X。
    乙方向甲方提供工業(yè)產(chǎn)權(quán)的技術(shù)資料包括影印本的專利證書和注冊(cè)商標(biāo)證書、有效期說(shuō)明、技術(shù)特點(diǎn)、實(shí)際價(jià)值、價(jià)格計(jì)算依據(jù)等。
    4、 合營(yíng)企業(yè)各方必須在19XX年X月X日前交付其出資。遲交必須交納利息或賠償因此而造成的損失。
    5、 甲乙雙方中任何一方轉(zhuǎn)讓其出資額，須經(jīng)另一方同意和其政府批準(zhǔn)，該方享有優(yōu)先購(gòu)買權(quán)。
1. The registered capital of Joint Venture shall be        (amount of capital), of which half (50%) will be contributed by each Party.
2. Party A's contributions include
(1) Buildings and premises:______(value)；
(2) Domestically-made equipment:_____(value)；
(3) Cash:_____；
(4) The site of Joint Venture:______(value).
3. Party B's contributions include
(1) Cash:______；
(2) Sophisticated equipment:_______(value)；
(3) Industrial property  _______(value).
Party B shall present to Party A the relevant documentation on the industrial property including photocopies of the patent certificates and trademark registration certificates, statements of validity, their technical characteristics, practical value, the basis for calculating the price, etc.
4. Each Party to Joint Venture shall pay in its contributions before______(time limit).  Any delay in payment will be subject to a payment of interest or a compensation for the loss occurred therein.
5. The transfer of one Party's share in the registered capital shall be effected with the prior consent of the other Party and approval of its government and the latter shall enjoy priority to purchase it.

第五條  專利許可
Article 5  Patent Licensing Arrangement

    1、 乙方同意向合營(yíng)企業(yè)轉(zhuǎn)讓下列獨(dú)家許可：
    （1）專利獨(dú)占許可――依據(jù)本協(xié)議的專利許可協(xié)議，用乙方專利生產(chǎn)、使用和銷售許可產(chǎn)品。
    （2）商標(biāo)獨(dú)占許可――依據(jù)本協(xié)議的專利許可協(xié)議，用乙方商標(biāo)銷售許可產(chǎn)品。
    （3）專有技術(shù)獨(dú)占許可――根據(jù)本協(xié)議的技術(shù)援助協(xié)議，用乙方專有技術(shù)生產(chǎn)和銷售專利產(chǎn)品。
    2、 甲乙雙方同意，在執(zhí)行本協(xié)議的同時(shí)，將全面貫徹執(zhí)行上述三個(gè)協(xié)議：專利許可協(xié)議、商標(biāo)許可協(xié)議和技術(shù)援助協(xié)議。
1. Party B agrees to grant Joint Venture the following exclusive licences:
(1) An exclusive license to manufacture, use and sell Licensed Product under Party B's Patents according to the terms and conditions of the Patent License Agreement attached hereto.
(2) An exclusive license to use Trademark in marketing Licensed Product according to the terms and conditions of the Trademark License Agreement attached hereto.
(3) An exclusive license to practise Party B's know-how for manufacturing and marketing Licensed Product according to the terms and conditions of the Technical Asistance Agreement attached hereto.
2. Party A and Party B agree that simultaneously with the execution of this Agreement, they shall carry out, the above three agreements -- the Patent License Agreement, the Trademark License Agreement and the Technical Assistance Agreement.

第六條  產(chǎn)品銷售
Article 6    Marketing Arrangements

    1、 甲乙雙方共同負(fù)責(zé)銷售許可產(chǎn)品。
    2、 通過(guò)乙方世界銷售系統(tǒng)銷售的產(chǎn)品初期銷售量為總產(chǎn)量的XX%。同時(shí)，甲方將協(xié)助合營(yíng)企業(yè)通過(guò)中國(guó)的外貿(mào)公司出口許可產(chǎn)品。
    3、 許可產(chǎn)品也可以在中國(guó)市場(chǎng)出售。
    4、 中營(yíng)企業(yè)所需購(gòu)買的原材料、半成品、燃料和配套件等，在條件相同的情況下，應(yīng)首先在中國(guó)購(gòu)買。當(dāng)然，也可使用自己的外匯直接從世界市場(chǎng)購(gòu)進(jìn)。
1. Party A and Party B shall be responsible for the sales of Licensed Product.
2. The initial amount of Licensed Product to be sold on the foreign markets is______% of the total production through Party B's marketing system worldwide.   Meanwhile Party A shall help Joint Venture to export Licensed Product through China's trade establishments.
3. Licensed Product may also be distributed on the Chinese market.
4. In purchase of the required raw materials and semiprocessed products, fuels, auxiliary equipment etc., Joint Venture shall give first priority to Chinese sources where conditions are the same, but may also acquire them directly from the world market with its own foreign exchange funds.

第七條  董事會(huì)
Article 7    Board of Directors

     1、 董事會(huì)是合營(yíng)企業(yè)的最高領(lǐng)導(dǎo)機(jī)構(gòu)，負(fù)責(zé)合營(yíng)企業(yè)的主要事宜。
    2、 董事會(huì)由XX名董事組成，其中X名（包括董事長(zhǎng)）由甲方指定；X名（包括副董事長(zhǎng)）由乙方指定。董事的任期為4年，若雙方同意，任期可以延長(zhǎng)。
     3、 董事會(huì)每年召開(kāi)一次，原則上在合營(yíng)企業(yè)的法定地址舉行。出席會(huì)議的法定人數(shù)不得少于董事人數(shù)的2/3。若董事不能出席會(huì)議，應(yīng)授權(quán)代表出席會(huì)議，代表他投票。
    若在任期內(nèi)，因死亡、退休或因其他原因，董事在任期屆滿前不能履行職責(zé)者，雙方同意充分合作，并由因其指定的董事死亡、退休或其他原因造成空位的一方給予更換。
    4、 對(duì)于下列問(wèn)題，必須經(jīng)出席會(huì)議的董事一致通過(guò)，方可作出決定：
    （1）修改合營(yíng)企業(yè)章程；
    （2）終止和解散合營(yíng)企業(yè)；
    （3）增加或轉(zhuǎn)讓合營(yíng)企業(yè)的注冊(cè)資本；
    （4）合營(yíng)企業(yè)同其他經(jīng)濟(jì)組織合并。
    其他問(wèn)題的決定，以出席會(huì)議董事人數(shù)的微弱多數(shù)票作出。
1. The Board of Directors is the top leadership of Joint Venture.   It is responsible for all major issues concerning Joint Venture.
2. The Board of Directors consists of______(number) directors, of whom _______(number) including the chairman shall be appointed by party A, and______(number) including the deputy chairman shall be appointed by Party B.  The office term for the directors is 4 years, which may be renewed with the consent of the Parties to Joint Venture.
3. Board meetings shall generally be held at the location of Joint Venture's legal address, once each year.  A quorum for a meeting shall consist of not fewer than two thirds (2/3) of the directors.  Should any director be unable to attend the meeting, he shall authorize a representative to be present at the meeting and vote for him.
In case a director dies, resigns, or is otherwise unable to fulfil his duties prior to the fulfilment of his term, the Parties agree to cooperate fully to have as his replacement a director nominated by the Party that nominated the director whose death, resignation or other conditions created the vacancy.
4. Decisions on the following items shall be made only when unanimously agreed upon by the directors present at the Board meeting.
(1) Amendment to the articles of incorporation of Joint Venture；
(2) Termination and dissolution of Joint Venture；
(3) Increase or assignmnet of the registered capital of Joint Venture；
(4) Merger of Joint Venture with another economic organization.
Decisions on other items shall be made by a simple majority vote of the directors present at the meeting.

第八條  管理
Article 8    Management

    1、 合營(yíng)企業(yè)設(shè)經(jīng)營(yíng)管理機(jī)構(gòu)，負(fù)責(zé)企業(yè)的日常經(jīng)營(yíng)管理工作。
    2、 經(jīng)營(yíng)管理機(jī)構(gòu)設(shè)經(jīng)理1人、副經(jīng)理2人，任期4年。總經(jīng)理由甲方指定，負(fù)責(zé)執(zhí)行董事會(huì)的決議和日常管理工作。副總經(jīng)理由雙方各指定1人，協(xié)助總經(jīng)理工作。
    3、 管理機(jī)構(gòu)設(shè)若干部門，在總經(jīng)理和副總經(jīng)理的領(lǐng)導(dǎo)下，負(fù)責(zé)企業(yè)各部門的工作。
1. Joint Venture shall establish a management office which shall be responsible for daily management of Joint Venture.
2. The management office shall have a general manager and two deputy general managers, whose term is 4 years.  The general manager nominated by Party A is responsible for the implementation of the decisions of the Board of Directors and daily operation.  The deputy managers, one of whom is nominated by each Party, shall assist the general manager in his duties.
3. The management office may have its subdivisions, the duties of which are to manage different business departments under the leadership of the general manager or deputy general managers.

第九條  勞動(dòng)管理
Article 9     Labour management

    1、 合營(yíng)企業(yè)的中方專家、技術(shù)人員、工人和其他人員由甲方招聘；合營(yíng)企業(yè)的外方專家由乙方招聘。
    2、 合營(yíng)企業(yè)的專家、職員或工人的雇用、辭退、工資、勞動(dòng)保險(xiǎn)、生活福利和獎(jiǎng)懲等項(xiàng)，由董事會(huì)按照《中華人民共和國(guó)中外合資經(jīng)營(yíng)企業(yè)法實(shí)施條例》決定。
1. Party A agrees to help Joint Venture to invite and recruit Chinese experts, technicians, workers and other personnel and Party B agree to help Joint Venture to invite and recruit foreign experts.
2. The employment and dismissal, wages, insurance, welfare, awards, and fines of its experts, staff members and workers shall be decided by the Board of Directors according to “Regulations for the Implementation of the Law of the People's Republic of China on Chinese Foreign Joint Venture”.

條十條   財(cái)務(wù)與會(huì)計(jì)
Article 10  Financial Affairs and Accounting

    1、 協(xié)議雙方充分認(rèn)識(shí)到，為了他們自己和合營(yíng)企業(yè)的最大利益，必須盡一切可能增加生產(chǎn)。因此，雙方同意合營(yíng)企業(yè)應(yīng)保留足夠的收益，用于擴(kuò)大生產(chǎn)的其他需要，如獎(jiǎng)金和福利基金。合營(yíng)企業(yè)的年留用獎(jiǎng)金比率由董事會(huì)決定。
    2、 合營(yíng)企業(yè)雇用合格的財(cái)務(wù)人員和審計(jì)員，設(shè)立會(huì)計(jì)帳目，合營(yíng)各方可隨時(shí)查看有關(guān)帳目。
    3、 合營(yíng)企業(yè)的財(cái)政年度自1月1日至12月31日。合營(yíng)企業(yè)的凈收入，在扣除儲(chǔ)備金、獎(jiǎng)金和企業(yè)發(fā)展獎(jiǎng)金以后，根據(jù)各方出資在注冊(cè)醬中占的比例進(jìn)行分配。紅利以XX（貨幣）支付。
1. The parties hereto are fully aware that the best interests of their own and Joint Venture will be served by taking all reasonable measures to ensure increase in production and in order to achieve this goal, the Parties agree to retain sufficient earnings in Joint Venture for the expansion of production and other requirements, such as bonus and welfare funds.  The annual proportion of the earnings to be retained shall be decided by the Board of Directors.
2. Joint Venture shall employ competent treasurers and auditors to keep all books of accounts, which are accessible at any time to each Party hereto.
3. The fiscal year of Joint Venture shall begin on January 1st and end on December 31st.  The net profit of Joint Venture shall be distributed between the Parties to Joint Venture in proportion to their respective shares in the registered capital after the deduction therefrom of the reserve funds, the bonus and the expansion funds of Joint Venture.  Dividends shall be paid in        (currency).

第十一條  稅費(fèi)
Article 11  Tax

    1、 合營(yíng)企業(yè)必須按照中華人民共和國(guó)的法律納稅。
    2、 合營(yíng)公司的職員和工人必須按照《中華人民共和國(guó)個(gè)人所得稅》納稅。
    3、 合營(yíng)企業(yè)進(jìn)出口貨物根據(jù)中華人民共和國(guó)的法律繳納或減免關(guān)稅。
1. Joint Venture shall pay taxes in accordance with the relevant laws of the People's Republic of China.
2. The staff members and workers employed by Joint Venture shall pay individual income tax according to the Individual Income Tax Law of the People's Republic of China.
3. Joint Venture shall pay or exempt from customs duty and industrial and commercial consolidated tax on goods imported or exported in accordance with the relevant laws of the People's Republic of China.

第十二條   合營(yíng)期限
Article 12  Duration of Joint Venture

    1、 合營(yíng)期限為X年。合營(yíng)企業(yè)的成立日期為合營(yíng)公司營(yíng)業(yè)執(zhí)照簽發(fā)之日。
    2、 若雙方同意延期，合營(yíng)企業(yè)必須在期江前6個(gè)月向中國(guó)政府的主管部門提出延長(zhǎng)期限的申請(qǐng)。
1. The duration of Joint Venture is______ years, which begins on the date when Joint Venture is issued the business license.
2. When both Parties to Joint Venture agree to extend the duration, Joint Venture shall file an application for extending the duration to the relevant authority of the Chinese governmnent 6 months befor its expiration date.

第十三條   解散與清算
Article 13  Dissolution and Liquidation

    董事會(huì)宣布解散合營(yíng)企業(yè)，必須制定清算程序和原則，并成立清算委會(huì)。
    合營(yíng)企業(yè)解散和清算的一切事宜均按中華人民共和國(guó)法律辦理。
Upon announcement of the dissolution of Joint Venture, its Board of Directors shall work out procedures and principles for the liquidation and set up a liquidation committee.
All matters concerning the dissolution and liquidation of Joint Venture shall be dealt with in accordance with the relevant laws of the People's Republic of China.

第十四條  保險(xiǎn)
Article 14  Insurance

    合營(yíng)企業(yè)的各項(xiàng)保險(xiǎn)均在中保財(cái)產(chǎn)保險(xiǎn)公司投保。
Insurance against various risks shall be effected by Joint Venture with the People's Insurance Company of China.

第十五條  仲裁
Article 15  Arbitration

    有關(guān)本協(xié)議的一切分歧與爭(zhēng)議，若董事會(huì)不能通過(guò)協(xié)商解決，則提交中國(guó)國(guó)際貿(mào)易促進(jìn)委員會(huì)對(duì)外貿(mào)易仲裁委員會(huì)，根據(jù)該會(huì)仲裁程序暫行規(guī)則進(jìn)行仲裁。該委員會(huì)的裁決是終局的，對(duì)雙方均具有約束力。
All disputes, controversies or differences which may arise between the Parties hereto, out of or in relation to this Agreement and which the Board of Directors fails to settle through consultation, shall finaly be submitted to arbitration which shall be conducted by the Foreign Trade Arbitration Commission of the China Council for the Promotion of International Trade in accordance with the Provisional Rules of Procedure of Arbitration of the said commission, the decision of which shall be final and binding upon both parties.

第十六條   協(xié)議的修改
Article 16  Amendment

    本協(xié)議的修改，必須經(jīng)甲乙雙主同意，簽署書面協(xié)議，并報(bào)中華人民共和國(guó)主管部門批準(zhǔn)。
This Agreement may be amended during the duration of this Agreement by the Parties, provided that such amendment shall be in writing and signed by both Parties and shall be approved by the competent agency of the governmnet of the People's Republic of China.

第十七條   不可抗力
Article 17  Force Majeure

    1、 本協(xié)議任何一方因地震、火災(zāi)、洪水、爆炸、風(fēng)暴、事故和戰(zhàn)爭(zhēng)等不可抗力事件，未能履行協(xié)議，不構(gòu)成違約或索賠之緣由。
    2、 遭受不可抗力事件一方必須立即電報(bào)通知另一方，并在發(fā)報(bào)后X天內(nèi)提交當(dāng)?shù)刂鞴懿块T出具的證明文件，供雙方據(jù)以友好合理地解決有關(guān)問(wèn)題。
1. Any failure or delay in the performance by either Party hereto of its obligations under this Agreement shall not constitute a breach hereof or give rise to any claims for damages if it is caused by the following occurrences beyond the control of the Party: earthquake, fire, floods, explosions, storms, accidents, war.
2. The Party affected by force majeure event shall immediately cable the other Party about the event, and submit within______ days after the cable the certified documents issued by a public competent organization at the place where the force majeure event has taken place, with which the two Parties hereto shall settle the problem in a friendly and reasonable way.

第十八條  通知
Article 18  Notice

    一切有關(guān)本協(xié)議的通知必須采用書面形式，其地址如下：
ABC公司地址：
XYZ公司地址：
合營(yíng)企業(yè)地址：
    通知日期以通知發(fā)出日為準(zhǔn)，但改變地址的通知以通知收到日為準(zhǔn)。時(shí)間按通知方所在的時(shí)區(qū)計(jì)算。
Any notice required or permitted under the provisions of this Agreement shall be in writing and addressed as follows:
To ABC Corporation: at______.
To XYZ Company: at______.
To Joint Venture: at_______.
Notice shall be deemed to have been given on the date of mailing except the notice of change of address which shall be deemed to have been given when received.   The time shall be calculated according to that of the time zone of the addresser or sender.

第十九條   唯一協(xié)議
Article 19  Sole Agreement

    本協(xié)議是當(dāng)事人的唯一協(xié)議，并取代當(dāng)事人雙方以前明確表示和暗示方式所達(dá)成的一切協(xié)議和承諾。
This Agreement consititutes the entire and only Agreement between the Parties hereto and supersedes and nullifies all prior agreements, commitments, expressed or implied, between the Parties hereto.

第二十條   適用法律
Article 20  Governing Law

    本協(xié)議的形式、有效期、解釋和履行，均以中華人民共和國(guó)法律為準(zhǔn)。
The formation, validation, interpretation and performance of this Agreement are governed by the laws of the People's Republic of China.

第二十一條  文字
Article 21  Language

    本協(xié)議以中、英文書寫，兩種文本對(duì)雙方均具有約束力，但在產(chǎn)生分歧時(shí)，以中文本為準(zhǔn)。
    茲證明，雙方委派各自代表， 在以下開(kāi)首語(yǔ)中書明的日期簽署蓋章。本協(xié)議一式兩份。
This Agreement shall be executed by the Parties hereto in both Chinese version and English version, each of which shall be binding upon both Parties.  But the Chinese version shall prevail in the event of any discrepancy between the two said versions.
  IN WITNESS WHEREOF, the Parties hereto have executed this Agreement in duplicate by their duly authorized representatives as of the date first above written.